Continental acquires Elektrobit Automotive, expands software and systems expertise

Continental Corporation has fast expanding its systems and software expertise for solutions in the automotive industry.

The international automotive supplier purchased Elektrobit Automotive GmbH, which is headquartered in Erlangen, Germany. Elektrobit Automotive is a wholly owned subsidiary of the Finnish Elektrobit Corporation, listed on NASDAQ OMX Helsinki. The company is a specialist for highly innovative software solutions, and has worked closely with Continental for more than 10 years. The clearance of the purchase is subject to clearance by antitrust authorities and approval by Elektrobit's shareholders. Closing is expected to occur in the third quarter of 2015.

At Elektrobit Automotive (including e.solutions GmbH), around 1,900 professionals develop powerful solutions for complex vehicle functions, such as advanced driver assistance systems and infotainment systems, for leading carmakers and systems suppliers.

With this acquisition, Continental says it is strengthening its development capacity for current projects while boosting its technology development of systems for automated driving. Continental currently employs 11,000 professionals in the field of software development.