Rightware, an automotive software company from Finland, has been acquired by Chinese firm Thundersoft for €64 million. The deal is expected to close early next year.
Rightware builds software, such as Kanzi, which is used by automotive companies to enhance the driving experience. Thundersoft, a software company based in Beijing, specialises in automotive, mobile, and IoT. The deal marks Thundersoft’s first international acquisition and its entrance into the European market.
According to CEO Jonas Geust, the company expects to have it software in more than 25 million cars by 2022, aided by Thundersoft’s reach.
“This creates a huge possibility for us to position Kanzi as the industry standard software solution. The arrangement further strengthens our presence in the growing Asian automotive market and complements our strong footprint in the European and American automotive markets,” said Geust. “Thundersoft is already an established software player in the automotive industry and the perfect fit for Rightware.”
In a statement, the Finnish company said that it will continue to operate as an independent company with its current management and investment.