Helsinki, 19th December 2016 – Inventure has sold its stake in Rightware, the leading provider of automotive user interface software, to the world’s leading provider of operating systems and smart device platform technology, Thundersoft.
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 (471M RMB; 68M USD) and is expected to close in early 2017.
In 2009, Inventure was one of the founding investors in Rightware, at that time a small embedded software startup. Today, the company’s flagship product, Kanzi, is used by over 20 global automotive brands to create digital instrument clusters and infotainment systems that enhance the driving experience. By 2022, Kanzi is expected to power over 25 million cars.
“It’s been our pleasure to be supporting an exceptional team on their exciting journey. We believe that this transaction will support the development of both companies, and create a major player in the digitalization of the automotive industry”, comments Timo Tirkkonen, Partner at Inventure.
“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’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.
For more information, please contact:
Mobile +358 40 575 1553
Chief Executive Officer, Rightware
Mobile +358 40 502 2717