Luxoft Acquires Symtavision, a Leading Provider of Software Tools and Services for Real-time System Design and Development for the Automotive Industry
Luxoft Holding, Inc (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announced that it has acquired Symtavision GmbH, a provider of automotive software tools and consulting services focused on scheduling analysis, architecture optimization, and timing verification. These tools and services are for planning, optimizing, and verifying embedded, real-time systems within all modern automobiles. Symtavision’s tools, building on its proprietary intellectual property, focus on Under the Hood (UTH) technology around increasingly important software integration and timing analysis in the chassis, powertrain, body, and driver assistance domains as well as in-vehicle networking.
This acquisition fits perfectly into Luxoft’s solution-based end-to-end offering strategy by expanding its embedded software expertise into a rapidly growing automotive segment. Traditionally, Luxoft has focused on the cockpit engagements involving Human Machine Interface (HMI), infotainment, navigation, autonomous driving features and telematics. As all of the cars’ elements are moving rapidly from being hardware to software-defined, Luxoft envisions future demand to be connected with UTH-focused opportunities and solutions addressing various challenges related to under the hood and back-end (cloud) system design, development, management and maintenance.
As the automotive industry increasingly adopts and implements Advance Driver Assisted Systems (ADAS) and Driver Automation, the demand for tooling and expertise around real-time systems design and development creates a growing opportunity. Automotive industry is shifting into the era of ADAS and autonomous driving with every component of the car playing crucial role in safety, security, driver experience and efficiency of the vehicles. Luxoft sees numerous opportunities to create solutions for each of these segments. The acquisition of Symtavision addresses a critical need to have UTH systems operating safely and securely in real-time, as well as to manage all under the hood operations by means of the software, which is increasingly moving into that part of the vehicle.
“We would like to extend a warm welcome to the Symtavision team,” said Luxoft Automotive Managing Director, Georg Doll. “We are excited about the areas of synergy between our two organizations. First, Symtavision’s customer base and range of solutions are highly complementary to those of Luxoft. Their tools and services are deployed at select leading premium and volume car manufacturers and Tier-1 suppliers. It is also worth noting that a significant part of Symtavision’s revenue is derived from licenses, which is in line with Luxoft’s strategy.”
“We are excited about the tremendous potential Luxoft offers for growing Symtavision solutions for the benefit of our existing and future customers,” said Symtavision CEO, Marek Jersak. “The increased software dependency in vehicles will require additional levels of computing performance and network communications far exceeding those of established vehicle systems. These systems need to execute a tremendous amount of functions in real-time, reliably and under stringent cost constraints. ADAS, for instance, is a disruptive technology that is fundamentally challenging the way automotive electrical engineering and software systems have been built and integrated in the past.”
“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,” said Dr. Michael Brandkamp, Managing Director of High-Tech Gründerfonds.
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 27 dedicated delivery centers worldwide. It has over 10,500 employees across 31 offices in 17 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit https://www.luxoft.com
Luxoft Holding, Inc
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Symtavision® provides market-leading tools and associated consulting/engineering services for system-level timing design and timing verification – from early-phase estimation to final verification. Symtavision’s tools are used extensively in automotive electronics with support provided for key industry standards and automotive sectors including Chassis, Body, Powertrain, ADAS and in-vehicle networking. Symtavision is headquartered in Braunschweig, Germany with offices in Munich, Germany; Cologne, Germany and Troy, Michigan, and is supported by a network of distributors. Symtavision is an AUTOSAR development member. For more information visit: https://www.symtavision.com
About High-Tech Gründerfonds
High-Tech Gründerfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gründerfonds invests EUR 600,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gründerfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).