Austria-based TTTech Auto, including its management team and intellectual property, will be integrated into NXP’s automotive unit, pending regulatory approval.

NXP is to acquire TTTech Auto, a company specializing in safety software for autonomous vehicles, in an all-cash deal valued at $625 million.

The SDV market is projected to reach 45% of global auto production by 2027, with a CAGR of 48% from 2024 to 2027.

NXP Semiconductors, a leading player in automotive processing and networking, announced the acquisition of TTTech Auto for $625 million.

NXP Semiconductors NXPI, a leading player in automotive and industrial semiconductor solutions, has bolstered its portfolio with the acquisition of TTTech Auto, a Vienna-based specialist in safety-critical software for software-defined vehicles (SDVs).

NXP Semiconductors N.V. said today it has entered into an agreement to buy an Austrian startup called TTTech Auto AG, which builds software systems to ensure the safety of autonomous vehicles, for $625 million in cash.

NXP Semiconductors has announced the acquisition of TTTech Auto for $625 million to enhance its CoreRide platform for software-defined vehicles (SDVs). The deal gives NXP access to TTTech Auto's software expertise,

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Chip manufacturer NXP acquires TTTech Auto, a specialist in automotive software. NXP is thus focusing on the "Software Defined Vehicle".

NXP Semiconductors: "This acquisition combines NXP's automotive portfolio with a leading global player in safety software solutions," said NXP executive Jens Hinrichsen in a statement.