Auburn Hills-based automotive internal technology company Continental today announced its acquisition of Singapore-based mobility intelligence provider Quantum Inventions. Terms of the deal were not disclosed.
The acquisition will allow Continental to expand its intelligent transportation systems portfolio with Quantum Inventions’ city data including navigation systems that are highly responsive to real-time information such as traffic data, road incident information, and road pricing.
“Continental plans to double its current sales with mobility services by 2020,” says Ralf Lenninger, head of the Continental business unit intelligent transportation systems. “This alliance brings our intelligent transportation systems business unit a step closer to its goal of creating products, systems, and solutions, which will ensure 20 million better cars, better mobile lives for 25 million consumers, and 20 better cities by 2025. I am delighted to welcome Quantum Inventions into the Continental family.”
As part of the deal, Continental will add 120 employees working in Quantum Inventions’ three offices in Singapore, Malaysia, and Indonesia, as well as the Quantum Inventions development center in India.
“Asia continues to play an ever-increasing role in our strategy,” says Helmut Matschi, member of the executive board at Continental and head of the interior division. “Initiatives such as the Park & Go real time parking application for Singapore, our recent joint venture with China Unicom, strategic cooperation with Baidu, and now the purchase of Quantum Inventions underline our focus on developing mobility services solutions. We are excited to provide an expanded portfolio of customized solutions in the dynamic mobility services market.”
Quantum Inventions provides technology solutions through connected navigation, traffic, and transportation intelligence, as well as high-speed dynamic routing computation algorithms and real-time probe data processing and analysis. The company has three business lines: automotive, telematics, and intelligent mobility.