About the Client
Rightware, founded in 2009, is the leading provider of automotive user interface software. The company’s flagship product, Rightware Kanzi, is used by over 20 global automotive brands. Kanzi enables the creation of digital instrument clusters and infotainment systems that enhance automotive brands and the driving experience.
About the Deal
GP Bullhound acted as the exclusive financial advisor to Rightware on its sale to Thundersoft in a transaction valuing Rightware at EUR 64 million.
Jonas Geust, CEO of Rightware comments, “Thundersoft is already an established software player in the automotive industry and the perfect fit for Rightware. Kanzi is expected to power over 25 million cars by 2022. With Thundersoft, we can expand this footprint further. This creates a huge possibility for us to position Kanzi as the industry standard software solution. GP Bullhound’s international team has been fully committed to the success of this deal and really went the extra mile for us. With their strong global reach, particularly in Asia, Per Lindtorp and his team made sure we not only had the best partner, but the right deal for the management and shareholders.”
Larry Geng, CEO of Thundersoft says, “The automotive market is one of the fastest growing segments for Thundersoft, and we are providing in-vehicle infotainment and cluster OS solutions to our customers worldwide. Rightware has the best user experience design technology, which will be featured in more connected cars in the market. In combination with Rightware’s unique technology, design knowhow and world-class talent, we can bring more value to our customers and transform the automotive industry with our innovations”
Per Lindtorp, Director at GP Bullhound, concurred with the assessments of both CEOs, “It has been a pleasure working with the investors and the management of Rightware and Thundersoft to help create a true automotive software Tier 1 supplier. As a true transformational deal in the automotive software industry, this transaction is something we are very proud to have advised on. We are seeing an increasing appetite from Asian technology companies seeking to acquire European technology companies, providing them with the capital and resources to flourish.”