Industrial IoT platform
TTTech has acquired the Finnish Chip IP specialist Flexibilis. This deal serves to further strengthen our position in the industrial domain with our reliable real-time communication solutions and support our expansion plans towards new application areas such as the smart grid market as well as deterministic edge or real-time fog computing.
Flexibilis has over 15 years’ of experience developing precise, reliable and secure IP cores designed for easy FPGA integration. In the past few years Flexibilis IP has already been chosen by leading energy infrastructure providers at the core of their high-availability networks in smart grid systems. Flexibilis’ Redundant Switch (HSR/PRP) products will remain available under the Flexibilis brand. In all other markets the Flexibilis offering will be integrated with the TTTech offering. The former CEO Heikki Ala-Juusela has been elected to serve as managing director of the new TTTech Flexibilis entity in Finland.
“The acquistion of Flexibilis is an important step for us", states Georg Kopetz, Member of the Executive Board and Co-Founder of TTTech. “It demonstrates our strategic intent to deliver products in the industrial and smart grid markets that offer state-of-the-art solutions to the challenges faced by our customers today and in the future. We are thrilled to have such a talented team joining our TTTech group.”
TTTech is committed to investing in the Flexibilis development center in Tampere, Finland, in order to ensure that the highly skilled team there can continue to develop innovative technology solutions and grow in line with the strong customer demand.
Read more about this acquisition in our press release.