TTTech Announces Investment for Growth in Automotive and Industrial IoT
TTTech announced a strategic partnership with RT-RK d.o.o., one of the leading IT engineering companies for real-time embedded systems in Central and Eastern Europe. RT-RK is a long standing engineering partner of TTTech, especially in the field of automotive electronics and industrial applications. TTTech is investing in RT-RK to acquire 35% of the company’s share capital. The purchase price has not been disclosed.
By investing in one of the most prominent engineering houses in Southeast Europe, TTTech is strengthening its position as a leader in the fast developing market for networking and software solutions in the Industrial Internet of Things (IoT) and autonomous driving vehicles.
“The acquisition of RT-RK shares will allow us to execute complex engineering intensive projects in our safety-related markets exceptionally well,” explains Stefan Poledna, co-founder and member of the executive board at TTTech. “With this investment we are able to drive our growth strategy in the fields of Industrial IoT and autonomous operations.”
RT-RK, headquartered in Novi Sad, Serbia, is a global powerhouse serving customers in Silicon Valley and EMEA. The company currently employs around 500 engineers and is one of the first companies to industrialize Android operating systems in the IT market. “RT-RK is delighted to strengthen the cooperation with TTTech and to welcome the company as a major investor. We look forward to continuing our successful work as engineering partners,” says Nikola Teslic, Deputy General Manager, CTO and co-founder at RT-RK.
Read more about this story in the press release.