19.05.2015
Continental AG DE0005439004
DGAP-News: Continental Continues to Consistently Expand Software and Systems Expertise
DGAP-News: Continental AG / Key word(s): Mergers & Acquisitions
Continental Continues to Consistently Expand Software and Systems
Expertise
19.05.2015 / 08:00
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Continental Continues to Consistently Expand Software and Systems Expertise
- Purchase of the software specialist Elektrobit Automotive broadens
product range
- About 1,900 outstanding software professionals strengthen Continental's
development team
Hanover, May 19, 2015. The Continental Corporation is, as announced,
systematically expanding its systems and software expertise for solutions
in the automotive industry. The international automotive supplier purchased
Elektrobit Automotive GmbH, which is headquartered in Erlangen, Germany.
Elektrobit Automotive is a wholly owned subsidiary of the Finnish
Elektrobit Corporation, listed on NASDAQ OMX Helsinki. The company is a
specialist for highly innovative software solutions, and has worked closely
with Continental for more than ten years. The consummation of the purchase
is subject to clearance by antitrust authorities and approval by
Elektrobit's shareholders. Closing is expected to occur in the 3rd quarter
of 2015.
The Board of Directors of the Elektrobit Corporation is unanimously
recommending approval of the transaction, and will invite its shareholders
to an extraordinary general meeting on or around June 11, 2015.
Shareholders representing approximately 46 per cent of the issued share
capital have already committed to participate and vote for the transaction
on an irrevocable basis. For an approval a simple majority is required.
At Elektrobit Automotive (including e.solutions GmbH), some 1,900
professionals develop powerful solutions for complex vehicle functions,
such as advanced driver assistance systems and infotainment systems, for
leading carmakers and systems suppliers. With this acquisition, Continental
is strengthening its development capacity for current projects while
boosting its technology development of systems for automated driving.
Continental currently employs 11,000 professionals in the field of software
development.
Continental develops intelligent technologies for transporting people and
their goods. As a reliable partner, the international automotive supplier,
tire manufacturer, and industrial partner provides sustainable, safe,
comfortable, individual, and affordable solutions. In 2014, the corporation
generated sales of approximately EUR34.5 billion with its five divisions,
Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental
currently employs approximately 200,000 people in 53 countries.
Press contact
Hannes Boekhoff
Vice President, Media Relations
Continental AG
Ph.: +49 (0) 511 938-1278
Cell: +49 (0) 170 762 73 26
E-mail: [email protected]
Vincent Charles
Spokesman Business & Finance
Continental AG
Phone: +49 (0) 511 938-1364
Cell: +49 (0) 173 314 50 96
E-mail: [email protected]
This press release is available in the following languages: German, English
Press portal: www.continental-presse.de
Media database: http://www.continental-mediacenter.com
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19.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Continental AG
Vahrenwalder Straße 9
30165 Hannover
Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: [email protected]
Internet: www.conti.de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg,
Hanover, Stuttgart; Regulated Unofficial Market in Berlin,
Dusseldorf, Munich; Terminbörse EUREX; Luxemburg, SIX
End of News DGAP News-Service
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358999 19.05.2015
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