Press Release. Combined know-how in digitalization. ITK Engineering AG set to become part of Bosch Group

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1 Combined know-how in digitalization set to become part of Bosch Group ITK Engineering is a leading provider for system and software development across industries Acquisition will strengthen Bosch s position in the development services market Combined know-how in electrification, automation, and connectivity Abstatt, Rülzheim On October 12, 2016, the Bosch Group signed an agreement to acquire, a development services company headquartered in the town of Rülzheim in Germany s southern Palatinate region. The company was founded in 1994 as the Ingenieurgesellschaft für technische Kybernetik ( Engineering Company for Technical Cybernetics ), or ITK for short. Today, ITK Engineering employs more than 800 people and is a leading service provider in the field of model-based system and software development, specializing in the automotive engineering industries. Our acquisition of ITK Engineering will strengthen our position in the global growth market for engineering services, says Dr. Markus Heyn, member of the board of management of Robert Bosch GmbH. It has been agreed that the purchase price will not be disclosed. The transaction is subject to approval by the antitrust authorities. Development services are a growth industry ITK Engineering s highly qualified employees offer tailored development and consulting services to industrial enterprises and research institutions. The

2 company has spent more than 20 years building up its core competencies in the field of customized technical software development. ITK Engineering draws on its expertise to make machines smarter in a wide range of different industries. The company has seen steady growth since it was founded, boosting its workforce from just 50 people in 2005 to over 800 today. With Bosch as a strategic partner, we can strengthen the position of our core competencies in the international market still further. We can also better leverage opportunities for growth, especially through digitalization, and play an even more active role in shaping the market across industries, says Michael Englert, founder and CEO of. The Bosch Group offers development services for small batch production through its wholly owned subsidiary Bosch Engineering GmbH. Specializing in custom system and software development, the company employs more than 2,100 people worldwide. Founded in 1999 with just 13 employees, it has been growing steadily ever since. Growth drivers in the development services sector include a steady rise in the number of variants produced by vehicle manufacturers and the increasing complexity of software development. At the same time, digitalization and connectivity are putting ever greater demands on the security of data and processes. As a result, development service providers are increasingly viewed as an indispensable partner in the vehicle, system, and software development process, says Heyn. 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. Synergies based on expertise in growth areas ITK Engineering specializes in the automotive industries, as well as in medical and railway technology, though it is also active in a number of other sectors. Bosch Engineering carries out more than 800 customer projects a year,

3 developing custom electronics systems and software solutions for highperformance sports cars, leisure vehicles, commercial vehicles, railway and offhighway applications, and a wide range of other areas. Both companies 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, Bosch Engineering and ITK Engineering will be able to achieve synergies in these areas in the future. New market opportunities through worldwide access to customers Bosch Engineering offers development services at 15 locations around the world, including in North America, Japan, France, Austria, China, the U.K., Brazil, and Italy. The company employs more than 1,800 people in Germany, both at its development center in Abstatt near Stuttgart the company s headquarters and at its other locations in Holzkirchen, Ingolstadt, Weissach, and Braunschweig. In addition to its headquarters in Rülzheim in Germany s southern Palatinate region, ITK Engineering has branch offices in Friedrichshafen, Munich, Ingolstadt, Stuttgart, Frankfurt, Marburg, Braunschweig, and Berlin. ITK Engineering s international presence extends to Austria, Spain, Japan, and the U.S. The acquisition will enable the company to benefit from the international network and customer contacts of both Bosch Engineering and the Bosch Group as a whole. Contact for press inquiries: Bianca Kuhn; was established in 1994 as Ingenieurbüro für technische Kybernetik and is an internationally operating technology company with customers in the automotive industry, as well as in medical and railway

4 technology. In addition to tailored technical consulting and development services, the company offers turn-key systems in the fields of software engineering, embedded systems, model-based design and testing as well as control systems design and signal processing. With a staff of over 800 people, ITK is headquartered in Rülzheim (Palatinate) and has eight branch offices in Germany. In addition, ITK is represented in the USA, in Japan, Spain and Austria. Additional information is available online at Bosch Engineering GmbH is a wholly owned subsidiary of Robert Bosch GmbH and is head-quartered in Abstatt, Germany. As a systems development partner to the automotive industry since 1999, the company with its more than 2,000 associates offers development services for powertrains, safety and convenience systems, and electrical and electronic systems from the original concept to series production. Specialized in electronics and software, it draws on Bosch s proven large-scale series production technology to develop tailored solutions for a wide variety of applications in passenger cars, commercial vehicles, offhighway and recreational vehicles, and in rail applications, ships, and industry. Bosch Engineering GmbH also coordinates all the Bosch Group s motorsports activities. Additional information can be accessed at The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group

5 comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch s global manufacturing and sales network covers some 150 countries. The basis for the company s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is Invented for life. Additional information is available online at twitter.com/boschpresse

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