Auto parts supplier: Continental is considering buying a software specialist after the partial listing

Berlin car supplier Continental is considering the takeover of a software specialist after the scheduled for 2019 partial listing of the drive division. “Such a purchase can not be ruled out,” said Wolfgang Schäfer the “Börsen-Zeitung”. “We are currently easily able to pay up to five billion euros for one or even several companies.” The revenue from the IPO of the Powertrain division could help with the financing. Continental wool develop his special skills in the software field, Already today, more than 60 percent of their own products in the automotive sector digitized or equipped with sensors. One third of the more than 47,000 engineers already have a software or IT background. “These trends will continue to increase.”

Schaefer sees the plans for the IPO on course. “We are well on our way to being IPO-ready with the powertrain range as announced mid-2019,” he said. Crucial, however, will be the market environment. A growing global vehicle production in the second half of the year should provide suitable conditions for an IPO. However, he curtailed: “If the market environment in the second half of next year is not attractive enough in our view, we would postpone an IPO.”

After repeated profit warning, the company sees itself well on its way to achieving its lowered business goals this year. “We are in line with expectations in the fourth quarter,” said Schäfer.

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