THE JOINT VENTURE OF ELEKTROBIT AUTOMOTIVE GMBH, A SUBSIDIARY OF ELEKTROBIT CORPORATION, AND AUDI ELECTRONICS VENTURE GMBH (AEV) EXPANDS ITS BUSINESS FROM INFOTAINMENT SOFTWARE TO CONNECTED INFOTAI...
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
Free for publication on October 26, 2012, at 5 p.m. (CEST+1)
THE JOINT VENTURE OF ELEKTROBIT AUTOMOTIVE GMBH, A SUBSIDIARY OF ELEKTROBIT
CORPORATION, AND AUDI ELECTRONICS VENTURE GMBH (AEV) EXPANDS ITS BUSINESS FROM
INFOTAINMENT SOFTWARE TO CONNECTED INFOTAINMENT SOLUTIONS
Elektrobit Automotive GmbH, a subsidiary of Elektrobit Corporation (EB) and Audi
Electronics Venture GmbH (AEV), a subsidiary of AUDI AG, have decided to expand
their joint venture activities in e.solutions GmbH to include systems
engineering and provide systems integration services to AUDI AG and other VW
Group companies for their future connected infotainment solutions. To build the
required engineering competences and capacity, the joint venture will establish
a new site in Ulm, Germany. By end of 2013 e.solutions is planning to hire up to
100 R&D engineers in Ulm, leveraging the existing knowledge base and competency
in systems integration and software development.
Since its establishment in June 2009, the joint venture has been developing
infotainment software for Audi's and other VW Group's new in-car infotainment
systems. Audi is already using the infotainment software suite developed by the
joint venture in its high-end infotainment system in the new A3 model launched
this year. The joint venture is headquartered in Ingolstadt and it has
approximately 130 employees. EB holds a 51% stake in the joint venture and AEV
holds the remaining 49%. Since 2009 e.solutions has been included as subsidiary
in Elektrobit Corporation's consolidated financial statements.
The expansion of the joint venture has no significant impact on the net sales,
operating result and balance sheet of EB in 2012 and 2013, and thereby no
material impact on EB's current financial outlook for 2012.
Oulu, October 26, 2012
EB, Elektrobit Corporation
Jukka Harju
CEO
Further information:
Jukka Harju
CEO
Tel. + 358 40 344 5466
Alexander Kocher
President, EB Automotive Business Segment
Tel. +49 9131 7701 6598
Distribution:
NASDAQ OMX Helsinki
Principal media
Elektrobit Corporation (EB)
EB creates advanced technology and turns it into enriching end-user experiences.
EB is specialized in demanding embedded software and hardware solutions for
wireless and automotive industries. The net sales for the year 2011 totaled MEUR
162.2. Elektrobit Corporation is listed on NASDAQ OMX Helsinki.
www.elektrobit.com
EB's Automotive Software Business
EB's Automotive Software Business has established itself internationally as one
of the most important suppliers of embedded software solutions for the
automotive industry. In addition to the development of innovative products, we
also specialize in services and consulting for the automotive industry,
supplying implementations of serial software solutions for a broad range of
AUTOSAR and FlexRay, Infotainment, Navigation, HMI and Driver Assistance
systems. EB continues to invest in feature integration and development tools so
that the in-vehicle devices get to market more quickly and ship in volume
sooner. www.automotive.elektrobit.com
AEV, Audi Electronics Venture GmbH
Audi Electronics Venture GmbH (AEV) was established in 2001 as a full subsidiary
of AUDI AG. The objective of AEV is to implement automotive innovations based on
new technologies. This can be achieved by making use of AEV's own function and
software development as well as associated companies and co-operations.
Therefore AEV is a single point of contact for high-tech entities in the field
of electronics and software.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Elektrobit Oyj via Thomson Reuters ONE
[HUG#1652840]
Unternehmensinformation / Kurzprofil:
Datum: 26.10.2012 - 16:01 Uhr
Sprache: Deutsch
News-ID 196843
Anzahl Zeichen: 4711
contact information:
Town:
Oulu
Kategorie:
Business News
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"THE JOINT VENTURE OF ELEKTROBIT AUTOMOTIVE GMBH, A SUBSIDIARY OF ELEKTROBIT CORPORATION, AND AUDI ELECTRONICS VENTURE GMBH (AEV) EXPANDS ITS BUSINESS FROM INFOTAINMENT SOFTWARE TO CONNECTED INFOTAI..."
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