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Continental Closes Acquisition of Elektrobit Automotive

DGAP-News: Continental AG / Key word(s): Acquisition
Continental Closes Acquisition of Elektrobit Automotive

01.07.2015 / 13:53

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Continental Closes Acquisition of Elektrobit Automotive

- Purchase expands Continental's software and systems expertise

- Approximately 1,900 outstanding software professionals strengthen
development team

Hanover/Erlangen, July 1, 2015. The Continental Corporation has closed its
acquisition of Elektrobit Automotive Group, formerly wholly owned by
Finnish Elektrobit Corporation, Helsinki. The shareholders of Elektrobit
Corporation approved the acquisition on June 11 and the relevant antitrust
waiting periods expired at the end of June. With the purchase, the
international automotive supplier, tire manufacturer, and industrial
partner Continental is further expanding its systems and software expertise
for solutions in the automotive industry. Elektrobit Automotive is a
specialist in highly innovative software solutions.

At Elektrobit Automotive (including its joint venture company e.solutions
GmbH), some 1,900 professionals develop powerful solutions for complex
vehicle functions regulated by software, such as advanced driver assistance
systems and infotainment systems, for leading carmakers and systems
suppliers. With this acquisition, Continental is strengthening its
development capacity and boosting its technology development of systems for
automated driving. Continental currently employs 11,000 professionals in
the field of software development.

Continental develops intelligent technologies for transporting people and
their goods. As a reliable partner, the international automotive supplier,
tire manufacturer, and industrial partner provides sustainable, safe,
comfortable, individual, and affordable solutions. In 2014, the corporation
generated sales of approximately EUR34.5 billion with its five divisions,
Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental
currently employs approximately 200,000 people in 53 countries.


Contact for Journalists

Hannes Boekhoff
Vice President Media Relations
Continental AG
Phone: [phone]
Cell: [phone]
E-mail: [e-mail]

This press release is available in the following languages: Chinese, Czech,
Dutch, English, French, German, Hungarian, Japanese, Korean, Portuguese
(Brazil), Portuguese (Portugal), Romanian, Russian, Slovakian, Spanish

Links

Press Portal: www.continental-press.com
Media Database: www.mediacenter.continental-corporation.com
Video Portal: http://videoportal-en.continental-corporation.com/




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Language: English
Company: Continental AG
Vahrenwalder Straße 9
30165 Hannover
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.conti.de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg,
Hanover, Stuttgart; Regulated Unofficial Market in Berlin,
Dusseldorf, Munich; Terminbörse EUREX; Luxemburg, SIX


End of News DGAP News-Service
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