Continental acquires mobility intelligence provider Quantum Inventions
Another acquisition for Continental. Days after the German company reported taking a minority share in French autonomous driving company EasyMile SAS, it announced it has finalised its acquisition of Singapore based mobility intelligence provider Quantum Inventions. Continental hasn’t disclosed how much it paid for the firm.
Quantum Inventions will add to Continental’s growing intelligent transportation systems portfolio with its city data including next generation navigation systems that are highly responsive to real-time information such as traffic data, road incident information and dynamic road pricing. With the closing, Continental welcomes around 120 employees working across Quantum Inventions’ three offices in Singapore, Malaysia and Indonesia; and Quantum Inventions Development Centre (QIDC) in India into its fold.
“Asia continues to play an ever-increasing role in our strategy,” states Helmut Matschi, head of Continental’s 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 customised solutions in the dynamic mobility services market.”
Ralf Lenninger, head of the Continental Intelligent Transportation Systems business unit, adds: “Continental plans to double its current sales with mobility services by 2020. This alliance brings Business Unit Intelligent Transportation Systems a step closer to its goal of creating products, systems and solutions which, by 2025 will ensure 20 million better cars, better mobile lives for 25 million consumers and 20 better cities. I am delighted to welcome Quantum Inventions into the Continental family.”
“We are proud to be a part of Continental,” says Saurav Bhattacharyya, chief executive officer of Quantum Inventions. “With our combined strengths in the area of intelligent transportation systems, we are poised to provide a strong value proposition to customers, both OEMs and Cities, around the world.”
Quantum’s solutions are based on its proprietary state-of-the-art data technology platform, which provides connected navigation, traffic and transportation intelligence, 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.