Automotive user interface software provider, Rightware has been acquired by operating systems and smart device platform technology company, Thundersoft.
Rightware will remain an independent company with current management and continued investments in the automotive business and Finland. The deal is worth EUR64m (US$67m) and is expected to close early next year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Rightware was founded in 2009 and the company’s flagship product, Kanzi, is used by more than 20 global automotive brands. Kanzi enables the creation of digital instrument clusters and infotainment systems.
Thundersoft, founded in 2008 and listed on the Shenzhen Stock Exchange, provides operating system technology and services globally for the mobile, automotive and IoT markets.
“Kanzi is expected to power over 25m cars by 2022. With Thundersoft, we can expand this footprint further and support our customers,” said Rightware CEO, Jonas Geust. “At Rightware we take pride in creating software that shapes the experiences of millions of drivers across the globe.
“We see specialisation within the global automotive industry software will continue. This creates a huge possibility for us to position Kanzi as the industry standard software solution. The arrangement further strengthens our presence in the growing Asian automotive market and complements our footprint in the European and American automotive markets.
“Thundersoft’s investment in Rightware demonstrates how Finland can breed know-how, solutions and technology for global markets.”
With its first overseas acquisition, Thundersoft enters the European market and further expands its platform technology and services within the automotive industry.
“The automotive market is one of the fastest growing segments for Thundersoft and we are providing in-vehicle infotainment and cluster OS solutions to our customers worldwide,” said Thundersoft CEO, Larry Geng.
Rightware remains an independent company through its existing brand, products and focus on the automotive industry. The current Rightware management will remain and re-invest in the company. Rightware currently employs around 50 professionals and has a 12-month plan to recruit 20 new experts, around half of which are expected to come from Finland.
Rightware’s existing shareholders include Finnish Industry Investment, Inventure Fund Ky, Nexit Ventures, current management and the company founders. Turnover is EUR7m.
