Co-investor invests further 20 million euros in TTTech
Zürich, March 7, 2019 – The Co-Investor Group, a mid cap private equity investor based in Zürich and Frankfurt am Main, has increased its investment in Vienna-based TTTech Computertechnik AG (hereinafter referred to as TTTech Group) by a further 20 million euros. TTTech Group is the technology leader in the field of robust networking platforms and safety controllers. The company’s solutions are used in the automotive, aerospace and industrial manufacturing industries (Industry 4.0). TTTech Group has numerous cooperations with global companies and organizations and is featured in products from Airbus, Boeing, the wind power market leader Vestas and NASA’s Orion spacecraft, among others.
The Co-Investor Group, which has been an investor in the TTTech Group since 2006, contributed around 20 million euros to the current financing round. 12.6 million euros were injected via a capital increase totalling 31.5 million euros. A further 7.4 million euros were invested as part of the private share placement. As of the next Annual General Meeting the Co-Investor Group will be represented on the company’s Supervisory Board by its recently appointed partner Dr. Ralph Eric Kunz.
The TTTech Group is headquartered in Vienna and currently employs a staff of more than 1,700 in Europe, Asia and North America. It combines more than 30 years of development experience in the field of time-controlled systems, giving it a strong position in the growing field of real-time data communication and secure control technology. In 2018 TTTech Auto AG was spun-off from the Automotive division. In addition to the long-time partner AUDI AG, Samsung Electronics, Infineon Technologies AG and GE Ventures have come on board to implement the increasingly tangible vision of (partially) autonomous driving utilizing the MotionWise safety software platform developed by TTTech Auto. In the current Audi A8 and other Volkswagen Group models, this safety software is already in serial production. A joint venture with the largest Chinese auto manufacturer SAIC that will build domain control units based on MotionWise was recently launched in Shanghai.
Dr. Ralph Eric Kunz, partner at Co-Investor and responsible for the transaction, commented on the investment as follows: “We are pleased that the additional capital gives the TTTech Group the opportunity to further strengthen its position as a technology leader. The technologies developed by TTTech and its many years of expertise in the field of security are currently in high demand in the fast-growing markets of autonomous driving and IOT. Also TTTech has important global customers and cooperation partners such as BMW, HYDAC, Ariane Group, Renesas and NXP. Finally, the TTTech Group benefits from a strong founding and management team with decades of experience, which has a high incentive for further profitable company growth due to its large ownership stake in the company”.
The Co-Investor Group is a private equity investor focused on mid-sized companies in German-speaking countries – with offices in Zürich, Frankfurt am Main and Berlin. It has conducted direct investments for the last 19 years, supporting mid-sized companies in growth phases.
Co-Investor benefits from its stable network of entrepreneurs that provide investment capital as shareholders of the Group and co-investors for direct investments, as well as its professional investment team. Co-Investor builds on a wealth of experience from more than 50 private equity investments and currently has 12 active investments under management in various sectors. The most recent exits of the last 24 months include Euroimmun (sold to the US laboratory specialists Perkin-Elmer), Casualfood (partial exit to Orior) and Amicra (sold to the Asian mechanical engineering company ASM Pacific Technology Ltd.).
The group consists of Co-Investor AG, Zürich, as well as its three wholly-owned subsidiaries of Co-Investor Deutschland GmbH, EVP Capital Management AG and Co-Investor Financial Services GmbH headquartered Frankfurt am Main.
About TTTech Group
The TTTech Group consists of the globally oriented high-tech companies TTTech Computertechnik AG, TTTech Auto AG and TTControl GmbH. The companies offer products and services based on highly innovative software and chip technologies combined with a deep understanding of digital transformation in key verticals. With its real-time networking platforms and safety controls, TTTech Group’s solutions improve the safety and reliability of electronic systems in the industrial and transportation sectors.
TTTech’s portfolio helps make automated driving and the Internet of Things a reality. It is based on twenty years of technology leadership with an extensive experience of working with market leaders. TTTech is a pioneer in the development of deterministic Ethernet technologies and a driving force behind the IEEE TSN standard and the SAE Time-Triggered Ethernet standard.
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