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Freshfields advises on $625m sale of TTTech Auto to NXP
Global law firm Freshfields is advising the majority owners Audi, Aptiv and Infineon and is acting as lead sell-side transaction counsel on the sale of TTTech Auto to Dutch NXP B.V., a wholly owned subsidiary of NASDAQ listed NXP Semiconductors N.V. With this all-cash transaction, the worldwide leader in automotive processing and networking will acquire the Vienna based company for a total volume of $625m. TTTech Auto is a leader in innovating unique safety-critical systems and middleware for software-defined vehicles (SDVs). Pending regulatory approvals, TTTech Auto including its management team, intellectual property, assets, and approximately 1,100 engineering staff will join NXPs automotive team.
NXP Semiconductors has operations in more than 30 countries and posted revenue of $13.28bn in 2023. The Dutch Company is a trusted partner for innovative solutions in the industrial & IoT, mobile, and communications infrastructure markets and the world's leading supplier of processing and connectivity systems for the automotive industry.
The Freshfields team is led by Partner Ludwig Hartenau, together with Associate Martin Zankl and Principal Associate Noel Zamani (all Corporate/M&A, Vienna) and also included:
- Partners: Maria Dreher-Lorjé (Antitrust, Competition and Trade, Vienna/Brussels), Katharina Kubik (Tax, Vienna)
- Counsel: Gernot Fritz (Data/Tech, Vienna), Sarah Jensen (Foreign Direct Investment, London)
- Principal Associates: Florian Reiter-Werzin (Antitrust, Competition and Trade, Vienna), Andreas Langer (Tax, Vienna), Kathrin Wildmoser-Zeller (Foreign Direct Investment, Vienna), Leonhard Prasser (People and Reward, Vienna) and Matthias Hofer (IP, Vienna)
- Associates: Sabeth Rivero Mendez, Gloria Kremser (both Corporate/M&A, Vienna), Christina Hinterschweiger, Jakob Tschachler (both Antitrust, Competition and Trade, Vienna), Daniel Grimmer, Rosa Glunz, Markus Mittendorfer (all Tax, Vienna) and César Manivet (Foreign Direct Investment, London)
