Elektrobit Group Oyj - EB (ELEKTROBIT) AND AEV (AUDI ELECTRONICS VENTURE GMBH) ESTABLISH A JOINT VENTURE TO DEVELOP SOFTWARE FRAMEWORK FOR IN-VEHICLE INFOTAINMENT SYSTEMS
June 22, 2009
EB (ELEKTROBIT) AND AEV (AUDI ELECTRONICS VENTURE GMBH) ESTABLISH A JOINT VENTURE TO DEVELOP SOFTWARE FRAMEWORK FOR IN-VEHICLE INFOTAINMENT SYSTEMS
ELEKTROBIT CORPORATION, PRESS RELEASE
Free for publication on 22. June 2009
EB (ELEKTROBIT) AND AEV (AUDI ELECTRONICS VENTURE GMBH) ESTABLISH A JOINT VENTURE TO DEVELOP SOFTWARE FRAMEWORK FOR IN-VEHICLE INFOTAINMENT SYSTEMS
Erlangen/Gaimersheim, Germany, 22 June 2009 - EB, the leading supplier of embedded software and hardware solutions for automotive and wireless industries, and AEV, 100% subsidiary of AUDI AG, are launching a joint venture on 1 July 2009, based in Gaimersheim, Germany. The joint venture will concentrate on the development of a software framework for in-vehicle infotainment systems. EB will hold a 51% stake in the new company, with AEV holding the remaining 49%.
The goal of this joint venture is to provide an infotainment framework and thereby enhance re-use of software for in-vehicle infotainment systems. EB and its long-term customer AUDI AG are combining their know-how in order to develop and establish this new infotainment framework. To this end, AUDI AG, through AEV will contribute four generations worth of in-vehicle infotainment experience and EB its knowledge as professional global software developer for infotainment and its expertise in software system integration.
EB believes that this infotainment framework will be attractive to the whole automotive industry, as it is designed to be hardware independent and due to its open interfaces it is interoperable with different system environments and applications. AUDI AG, as first customer, plans to implement key components of the infotainment framework in the next generation of the VW Group's high-end infotainment system.
EB has exclusive rights to market the joint venture's product. It complements EB's existing in-vehicle infotainment product offering currently consisting of the HMI design environment EB GUIDE and navigation solution EB street director. EB intends to bring alive customized infotainment systems for its global automotive customers with its software product portfolio and integration services capability.
The joint venture will at launch employ approximately 60 employees and it is estimated to have no significant impact on EB's net sales, operating profit or balance sheet within the next three years.
Further information:
Jarkko Sairanen
Executive Vice President, Automotive Software
EB, Elektrobit
+49 9131 7701 0
Or please read more detailed news targeted to automotive press from the attached PDF document: EB & AEV establish Joint Venture (Automotive Press)
Distribution: Main Media
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.
EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company's net sales for the year 2008 totaled EUR 172.3 million. 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, it also specializes 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.
