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BITTI - Bittium Oyj News Story

€6.74 -0.1  -0.9%

Last Trade - 07/05/21

Sector
Technology
Size
Small Cap
Market Cap £209.5m
Enterprise Value £207.6m
Revenue £68.2m
Position in Universe 704th / 1838

Continental buys Elektrobit's automotive division

Tue 19th May, 2015 7:03am
BERLIN, May 19 (Reuters) - Germany's Continental AG 
 CONG.DE  has bought Elektrobit Oyj's  EBC1V.HE  automotive 
division for 600 million euros ($677.5 million) to broaden its 
product range as demand for electronic components and software 
in cars grows. 
    Continental said on Tuesday the board of directors at 
Elektrobit unanimously backed the transaction, which the auto 
parts and tyre maker expects to close in the third quarter. 
    The greater use of electronics and software in vehicles, and 
the ability of cars to connect to smartphones and other devices, 
is providing automakers, suppliers and technology firms with new 
business opportunities. 
    ($1 = 0.8857 euros) 
 
 (Reporting by Andreas Cremer; Editing by Maria Sheahan) 
 ((Andreas.Cremer@thomsonreuters.com; +49-30-2888-5084; Reuters 
Messaging: andreas.cremer.thomsonreuters.com@reuters.net)) 
 
Keywords: CONTINENTAL M&A/
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