Technology Other News 19 Dec 2016 China's Thunder Soft ...

China's Thunder Software buys Finnish car software company

REUTERS
Published Dec 19, 2016, 9:08 pm IST
Updated Dec 19, 2016, 9:08 pm IST
Rightware's "Kanzi" software is used by more than 20 global automotive brands for user interfaces
The deal marks the first overseas acquisition for the Chinese company and Rightware will remain as an independent company with its current management after the acquisition, which is expected to close early 2017.
 The deal marks the first overseas acquisition for the Chinese company and Rightware will remain as an independent company with its current management after the acquisition, which is expected to close early 2017.

Chinese mobile operating systems company Thunder Software Technology Co Ltd (Thundersoft) said on Monday it has agreed to acquire Finnish automotive software company Rightware for 64 million euros ($67 million).

Rightware's "Kanzi" software is used by more than 20 global automotive brands for user interfaces such as digital dashboards and entertainment systems, the Finnish firm said.

 

The deal marks the first overseas acquisition for the Chinese company and Rightware will remain as an independent company with its current management after the acquisition, which is expected to close early 2017.

The arrangement is similar to another recent Chinese-Finnish deal in which mobile game maker Supercell operates independently under a majority ownership of China's Tencent Holdings Ltd.

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