TTTech Auto, a developer of safety software platforms for automated driving, has acquired Red Pine Software.
TTTech Auto says it is continuing its growth strategy with this acquisition and increases its software development capacities for Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) series development projects featuring its flagship product MotionWise.
Red Pine and its 60 employees are experts in automotive embedded software engineering with a focus on ADAS. The acquisition became effective as of January 1, 2020.
Georg Kopetz, CEO of TTTech Auto, says: “We are welcoming the Red Pine team to join forces for our rapidly growing ADAS/AD business.
“This will support the growth and the leading position of TTTech Auto in the safety software platform market in the next years.”
Cem Sezer, founder and CEO of Red Pine, says: “We are looking forward to becoming part of TTTech Auto and shape the future of automated driving with safety software solutions.
“TTTech Auto’s global market position and its partner ecosystem will allow us to contribute to the most demanding and state-of-the-art projects in the automotive industry at this time.”
Sezer founded Red Pine Software, in Turkey, in 2017 around a core team of experts with each more than 10 years of industry experience. Turkey has ranked 30 globally for the best developers worldwide right after the US and the UK, making it an “ideal site” to attract these talents, says TTTech.
Milenko Beric, senior vice president finance CP&E and general manager of sites CEE at TTTech Auto, says: “The CEE region and especially the tech hub Izmir have built up an excellent base of embedded software developers, which motivates us to strategically grow our business in this area.
“Based on our already well-established cooperation, we know Red Pine as an exemplary tech company with experienced employees and great growth potential.”
The acquisition of Red Pine Software expands TTTech Auto’s strong footprint from the CEE to Izmir in the Aegean region and represents another key step in its overall growth strategy.
With the previous acquisitions of RT-RK Automotive in Serbia, Croatia and Bosnia–Herzegovina and Silicon Gears in Spain as well as its overall fast-paced growth, TTTech Auto has doubled its workforce over the last two years.
These talents now have access to TTTech Auto’s rich partner ecosystem and contribute to the numerous projects with industry leaders. TTTech Group will exceed the 2,000-employee mark in 2020.