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Continental to turn to software takeovers after Powertrain IPO: report

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - German car parts maker Continental is considering acquiring software makers after the flotation of its Powertrain unit expected in the second half of 2019, its Chief Financial Officer Wolfgang Schaefer told Boersen-Zeitung."We are currently in a position to pay up to 5 billion euros ($5.69 billion) for one or more companies", he was quoted as saying in the German newspaper's Saturday edition."We want to expand our expertise in software. Today, already more than 60 percent of our automotive products are digitized or equipped with sensors", he said, adding that one third ...

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First Published: Sat, December 08 2018. 18:49 IST