TTTech Auto acquires Red Pine Software

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Austrian provider of safety software platforms for AVs, TTTech Auto, has acquired Turkish software company Red Pine Software.

The acquisition of Red Pine allows TTTech to increase software development for advanced driver assistance systems (ADAS) and automated driving (AD) projects featuring its MotionWise product.

Georg Kopetz, CEO of TTTech Auto, said, “We are welcoming the Red Pine team to join forces for our rapidly growing ADAS/AD business. This will support the growth and the leading position of TTTech Auto in the safety software platform market in the next years.”

Cem Sezer, who founded Red Pine in 2017, added, “TTTech Auto’s global market position and its partner ecosystem will allow us to contribute to the most demanding and state-of-the-art projects in the automotive industry at this time.”

Milenko Beric, senior vice president finance CP&E and general manager of sites CEE at TTTech Auto, said, “The CEE region and especially the tech hub Izmir have built up an excellent base of embedded software developers, which motivates us to strategically grow our business in this area. Based on our already well-established cooperation, we know Red Pine as an exemplary tech company with experienced employees and great growth potential.”

The acquisition was completed on January 1, 2020, and follows TTTech’s acquisitions of RT-RK Automotive in Serbia, Croatia and Bosnia-Herzegovina and Silicon Gears in Spain, allowing the Austrian firm to double its workforce in two years.

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