HELSINKI and BEIJING --- Rightware, provider of automotive user interface software, announces its acquisition by Thundersoft, a provider of operating systems and smart device platform technology. The arrangement supports the continued development of both companies - by creating a growth platform to help secure the top position in the rapidly expanding automotive software industry, while creating more complete solutions for customers. Rightware will remain an independent company with its current management and continued investments in the automotive business and Finland. The deal is worth 64 million Euros and is expected to be closed in early 2017.
Rightware was founded in 2009, and the company's flagship product, Kanzi, is used by over 20 global automotive brands. Kanzi enables the creation of digital instrument clusters and infotainment systems that enhance automotive brands and the overall driving experience. Thundersoft, founded in 2008 and listed on the Shenzhen Stock Exchange, provides operating system technology and services globally for the mobile, automotive and IoT markets. This arrangement advances Rightware to the next chapter in its growth and strengthens its presence in the global automotive software and connected car market.
"Kanzi is expected to power over 25 million cars by 2022. With Thundersoft, we can expand this footprint further and support our customers even better. At Rightware, we take great pride in creating software that shapes the experiences of millions of drivers across the globe. We see that the specialisation within the global automotive industry software will continue. This creates a huge possibility for us to position Kanzi as the industry standard software solution. The arrangement further strengthens our presence in the growing Asian automotive market and complements our strong footprint in the European and American automotive markets. Thundersoft is already an established software player in the automotive industry and the perfect fit for Rightware. Thundersoft's investment in Rightware perfectly demonstrates how Finland can breed unique knowhow, solutions and technology for global markets, as well as attract global investments," says Jonas Geust , CEO of Rightware.
With its first overseas acquisition, Thundersoft enters the European market and further expands its platform technology and services within the automotive industry. "The automotive market is one of the fastest growing segments for Thundersoft, and we are providing in-vehicle infotainment and cluster OS solutions to our customers worldwide. Cars are getting smarter - with rich applications and fully optimized OS solutions. Rightware has the best user experience design technology, which will be featured in more connected cars in the market. In combination with Rightware's unique technology, design knowhow and world-class talent, we can bring more value to our customers and transform the automotive industry with our innovations," says Larry Geng, CEO of Thundersoft.
Rightware remains an independent company through its existing brand, products and focus on the automotive industry. The current Rightware management will remain and re-invest in the company. Rightware currently employs around 50 professionals and has a 12-month plan to recruit 20 new experts, approximately half of which are expected to be recruited in Finland.
Rightware's existing shareholders include Finnish Industry Investment Ltd, Inventure Fund Ky, Nexit Ventures, the current management and the company founders. The deal is worth 64 million Euros and is expected to be closed in early 2017. Rightware has grown rapidly in recent years. Its turnover for 2016 is expected to reach around 7 million Euros, with profitability being reached by the end of the year.