December 7, 2006
TTTech Computertechnik AG (“TTTech”), a high-tech European growth company and the leading supplier of products in the field of time-triggered systems, has announced a strengthening of the company for further international expansion. firstVentury, a strategic financial investor active in Europe and in the USA, led an investment of 20 million Euros. Additionally, AUDI AG, the renowned international automotive company, acquired a minority participation in TTTech.
With firstVentury and Audi, TTTech has won over two more prominent shareholder groups to strengthen the company’s structure for further international expansion. The firstVentury investment of 20 million Euros (about 25 million US dollars) considerably strengthens TTTech’s capital resources. The investment, together with TTTech’s long-term commercial production projects, will provide an exceptionally high growth potential.
firstVentury’s strategic investment is accompanied by a minority participation of AUDI AG. Audi is one of the world’s most successful providers of premium automobiles and has been one of TTTech‘s major customers since 2001. The majority of shares will still belong to the current shareholders.
“This further strengthening of the company will be a solid basis for the continuous development of TTTech from technology leader to market leader,” stated Georg Kopetz, company founder and Managing Director at TTTech. “In a way that is reminiscent of SAP, TTTech has the potential to become a first-class European growth company with worldwide impact. We are pleased to join the present shareholders and AUDI AG in their support for TTTech on its way to further international expansion,” commented Niall Davis, firstVentury partner.
Co-developed by TTTech, time-triggered technology improves the interaction of electronic networks and increases their reliability in industrial applications, including steering and braking systems in airplanes and automobiles. Often referred to as networked embedded systems, such control systems are currently among the fastest growing markets in information technology.
Today, European and North American market leaders use TTTech’s time-triggered products in systems that have entered commercial production in the automotive, aerospace and off-highway industries. The time-triggered technology is a proven and certifiable technology platform that also enables innovative solutions in medical and power engineering, as well as a wide range of industrial control applications.
TTTech evolved from its origins as a spin-off of the Vienna University of Technology in 1998, and has become a well-established global technology leader. Among the key factors that propelled TTTech’s successful and profitable development is its close cooperation with many highly innovative, dynamic, multinational companies. The company’s involvement with a broad variety of important industries points to an exceptionally high innovation potential.