HTGF-backed spinout Symtavision, a developer of software technology for the automotive sector, has been acquired by Luxoft for an undisclosed amount.
Symtavision, a Germany-based automotive software developer backed by public-private partnership High-Tech Gruenderfonds (HTGF), has been acquired by software development services provider Luxoft for an undisclosed sum.
Symtavision was founded in 2005 as a spinout of Braunschweig University of Technology. The company’s technology, aimed at the automobile sector, helps software developers analyse and optimise real-time embedded systems such as in-vehicle networking.
Luxoft will use Symtavision’s technology to boost its expertise in the automotive sector, where it currently offers technology around navigation and autonomous driving, telematics and infotainment.
HTGF took part in a €500,000 ($560,000 at current exchange rates) funding round for Symtavision in 2006. The company has not disclosed any other funding details.
Michael Brandkamp, managing director of High-Tech Gruenderfonds, said: “We are delighted that Symtavision has been acquired by Luxoft. The areas of synergy between the two companies are clear since Symtavision’s customer base and its range of solutions are highly complementary to those of Luxoft.
“Symtavision has been one of the first companies in which we invested in 2006. Over the last ten years it has developed into the premier engineering company delivering tools for real-time analysis. We have been highly successful in our business and investments with Symtavision.”
– This article first appeared on our sister site Global Corporate Venturing.
