Bosch hopes the acquisition ofÂ ITK will strengthen its development business (Photo: ITK)
Robert Bosch plans to acquire a software development company - ITK Engineering - that specializes inÂ model-based system and software development.
The German automotive supplier, which is focusing increasingly on internet-of-things technologies, said the acquisition will strengthen its position in the field of engineering services.
Bosch has its own development unit, which is called Bosch Engineering. it employs 2,100 people and specializes in custom system and software development. ITK employs 800 people.
Growth in development services is driven by the auto industry's desire to build ever more variants, which increases complexity. Bosch said digitalization and connectivity also are imposing more stringent security demands on data and processes.
"As a result, development service providers are increasingly viewed as an indispensable partner in the vehicle, system, and software development process,” Bosch management board memberÂ Markus Heyn said in a press release.
ITK Engineering, which was founded in 1994, specializes in the car industry as well as in medical and railway technology.network and customer contacts