Continental AG

M&A Activity • May 19, 2015

News Details

Corporate | 19 May 2015 08:00

Continental Continues to Consistently Expand Software and Systems Expertise

Continental AG / Key word(s): Mergers & Acquisitions

2015-05-19 / 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 3 rd 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: hannes.boekhoff@conti.de

Vincent Charles

Spokesman Business & Finance

Continental AG

Phone: +49 (0) 511 938-1364

Cell: +49 (0) 173 314 50 96

E-mail: vincent.charles@conti.de

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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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:	ir@conti.de
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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