Schoenherr, working alongside Skadden, has advised NXP on its acquisition of TTTech Auto. Freshfields Bruckhaus Derringer advised TTTech majority owners Audi, Aptiv, and Infineon on the sale. Binder Groesswang, working with Clifford Chance's Munich office, advised Aptiv as well.
The transaction is valued at USD 625 million and remains contingent on regulatory approval.
NXP operates in automotive processing and networking.
TTTech Auto is a Vienna-based automotive software solutions company.
According to Schoenherr, “NXP intends to integrate TTTech Auto's management team, intellectual property, assets, and approximately 1,100 engineering staff into its automotive portfolio. Under the NXP brand, TTTech Auto will continue to serve existing customers and further expand its global footprint. TTTech's systems, safety, and security software solutions complement NXP's CoreRide platform, which enables automakers to maximize and simplify system performance and shorten time to market.”
The Schoenherr team included Partners Sascha Hoedl, Teresa Waidmann, Marco Thorbauer, Luka Lopicic, and Andrea Radonjanin, Counsel Stephan Roedler, Attorneys at Law Alexander Pabst, Nina Zafoschnig, Marija Vlajkovic, Dina Vlahov Buhin, and Didem Kara, and Associate Markus Fasching.
The Freshfields team included Vienna-based Partners Ludwig Hartenau, Maria Dreher-Lorje, and Katharina Kubik, Counsel Gernot Fritz, Principal Associates Noel Zamani, Florian Reiter-Werzin, Andreas Langer, Kathrin Wildmoser-Zeller, Leonhard Prasser, and Matthias Hofer, and Associates Martin Zankl, Sabeth Rivero Mendez, Gloria Kremser, Christina Hinterschweiger, Jakob Tschachler, Daniel Grimmer, Rosa Glunz, and Markus Mittendorfer, as well as further team members in London.
The Binder Groesswang team included Partner Thomas Schirmer, Senior Associate Christoph Schober, and Associate Michael Mittermair.
