B&C has acquired a 9% stake in TTTech for an undisclosed sum, guaranteeing that the TU Wien spinout will continue to be majority-owned by Austrian shareholders.
Industrial holding group B&C has bought a 9% stake in TTTech, an Austria-based networked safety control systems developer spun out from TU Wien.
Financial terms of the transaction have not been disclosed. B&C acquired the stake through its investment arm B&C Innovation Investments.
TTTech was spun out from TU Wien, which then operated under the international brand of Vienna University of Technology, in 1998. The spinout has developed networked safety control systems to make industrial and transport electronics systems safer and more reliable.
The company established a new subsidiary called TTTech Auto earlier this month that will focus on the continued development of its autonomous driving software.
TTTech Auto has entered into a strategic collaboration agreement with carmaker BMW, but it is unclear if the corporate invested as part of the deal.
The establishment of TTTech followed an $89m investment from Samsung Automotive Innovation Fund, the connected and autonomous car-focused…
