ZF Friedrichshafen has paid an undisclosed sum for a stake in engineering services provider ASAP Holding sized at over 35%.
Germany-based engineering services provider ASAP Holding has raised an undisclosed sum from automotive parts manufacturer ZF Friedrichshafen, which took a 35%-plus stake in the deal.
ZF Friedrichshafen conducted the transaction through its corporate venturing unit, Zukunft Ventures.
ASAP owns a group of nine companies that specialise in development and engineering services focused on areas such as autonomous driving, connectivity and electric cars. It offers software development, virtual testing of systems and onboard network development.
The company will use the funding…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
