Gleiss Lutz advises Bosch on the acquisition of ITK Engineering AG
Gleiss Lutz has advised Bosch on the acquisition of ITK Engineering AG. ITK Engineering is a development services company headquartered in the town of Rülzheim in Germany’s southern Palatinate region. Employing more than 800 people, the company is a leading service provider in the field of model-based system and software development, specializing in the automotive engineering industries. ITK Engineering’s international presence extends to Austria, Spain, Japan and the U.S. It has been agreed that the purchase price will not be disclosed. The transaction is subject to approval by the antitrust authorities.
Acquiring ITK Engineering will enable the Bosch Group to broaden and expand its range of development services and custom software development packages. ITK Engineering will be run as a wholly owned subsidiary within the Bosch Group and controlled by Bosch Engineering GmbH, which employs more than 2,100 people worldwide. Bosch Engineering and ITK Engineering each have expertise in driver assistance systems, automated driving, powertrain systems, electrification and connectivity, enabling them to offer their services across multiple industries. Through their collaboration, the two companies will be able to achieve synergies in these areas in the future.
Gleiss Lutz advised extensively on the transaction and coordinated an international team of advisors in the U.S., Japan, Spain and Austria.
The Gleiss Lutz team, headed by Dr. Jochen Tyrolt (lead, partner) and Johannes Schrägle (both corporate/M&A, Stuttgart), consisted of the following lawyers: Dr. Cornelia Topf (partner, Frankfurt), Dr. Nico Holtkamp, Dr. Jan Stenger, Makoto Ohnuma (all Stuttgart), Vanessa Sánchez López (Berlin) (all corporate/M&A), Dr. Herwig Lux (counsel, Stuttgart), Dr. Alexander Molle (counsel, Berlin), Linda Erdmann (Stuttgart) (all IP/IT), Dr. Steffen Krieger (partner), Dr. Elena Wilke (both employment, Düsseldorf), Dr. Achim Dannecker (partner), Dr. Markus Risse (both tax, Stuttgart), Dr. Matthias Karl (partner), Dr. Johannes Hertfelder (both competition/antitrust, Stuttgart), Dr. Eric Wagner (partner), Dr. Simon Wagner (both Commercial, Stuttgart), Svenja Bender (Real Estate, Frankfurt) and Dr. Eva Koch (Public Law, Düsseldorf).