04:41 AM EST, 01/07/2025 (MT Newswires) -- NXP Semiconductors ( NXPI ) said Tuesday it has agreed to acquire TTTech Auto for $625 million in cash.

TTTech Auto develops safety systems and middleware for software-defined vehicles and has relationships with many leading automotive engineering companies, NXP said.

Upon completion of regulatory hurdles, TTTech Auto, its management team, intellectual property, assets, and engineering staff of around 1,100 are to join NXP's automotive team and operate under the NXP brand, NXP said.