Schaeffler buys drive-by-wire expert
As a technology services provider, Xtronic develops customer-specific software and electronics solutions for the international automotive industry. The medium-sized, owner-managed company employs around 170 people at its Böblingen and Wolfsburg sites. The service portfolio includes applications in the areas of automated driving and electromobility, as well as functional safety, methods, tools, and test systems. Xtronic was founded twenty years ago and has developed the drive-by-wire system “Space Drive” in close cooperation with the engineering service provider Paravan. The company has customer relationships with well-known automobile manufacturers and suppliers.
The new acquisition has central know-how in connection with the development of the drive-by-wire “Space Drive” technology, which will benefit the Schaeffler Group in the development of solutions, particularly in the areas of control systems and autonomous driving.
Xtronic is to be integrated into the Schaeffler Group as an independent GmbH after completion of the takeover in the middle of the year. Daniel Schmid, Managing Director and one of the previous shareholders of Xtronic, will continue to manage the company operationally. The focus will continue to be on external customer relationships and on the development and supply of solutions within the Schaeffler Group.
At the same time, Schaeffler announced the sale of a plant in Plymouth: Barden Corp, which manufactures mechanical assemblies for Scheffler’s industrial division, is transferred to HQW Holding. Schaeffler assures that nothing will change in customer relations. The jobs will also essentially be retained.
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