MILAN (Reuters) - Italian tyremaker Pirelli and German tech group Robert Bosch GMBH will jointly develop a software-based "intelligent tyre" technology, the two companies said Tuesday.

The new system aims to improve safety, comfort, sustainability and driving dynamics, combining Pirelli's tyre-integrated sensors and Bosch' hardware and software expertise.

"It will be possible to collect, process, and transmit real-time tyre data to provide parameters for the vehicle's electronic control system," the two companies said.

In an initial joint project, Bosch developed a stability control application for Pirelli tyres fitted on Pagani Italian supercars, they added in the statement.

Pirelli and Bosch did not provide financial details for their agreement.