Austria-based TTTech Auto, including its management team and intellectual property, will be integrated into NXP’s automotive unit, pending regulatory approval.

Chipmaker NXP Semiconductors NV agreed to buy Austrian automotive software developer TTTech Auto for $625 million in cash to build out its products for software-defined vehicle makers.

NXP Semiconductors N.V. said today it has entered into an agreement to buy an Austrian startup called TTTech Auto AG, which builds software systems to ensure the safety of autonomous vehicles, for $625 million in cash.

NXP Semiconductors has announced the acquisition of TTTech Auto for $625 million to enhance its CoreRide platform for software-defined vehicles (SDVs). The deal gives NXP access to TTTech Auto's software expertise,

Dutch computer chip maker NXP said on Tuesday it has agreed to buy Austria's TTTech Auto for $625 million, to strengthen its automotive operations. NXP is the biggest maker of chips for cars, while TTTech Auto makes safety-focused 'middleware' - software that helps a car's operating system integrate with applications,