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TTTech acquires Flexibilis
TTTech has acquired the Finnish Chip IP specialist Flexibilis in a move to strengthen its position in the industrial domain and to support the company expansion plans towards new application areas such as the smart grid market.
Flexibilis’ Redundant Switch (HSR/PRP) products will remain available under the Flexibilis brand. In all other markets the Flexibilis offering will be integrated with the TTTech offering. The former CEO Heikki Ala-Juusela has been elected to serve as managing director of the new TTTech Flexibilis entity in Finland.
“The acquistion of Flexibilis is an important step for us", states Georg Kopetz, Member of the Executive Board and Co-Founder of TTTech. “It demonstrates our strategic intent to deliver products in the industrial and smart grid markets that offer state-of-the-art solutions to the challenges faced by our customers today and in the future. We are thrilled to have such a talented team joining our TTTech group.”
The a press statement TTTech says that it is committed to investing in the Flexibilis development center in Tampere, Finland, in order to ensure that the team there can continue to develop technology solutions and grow in line with the customer demand.
