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Hella sells front camera software to VW
Automotive supplier HELLA is selling its front camera software business and the associated testing and validation activities to Volkswagen AG's Car.Software Org.
Hella sells front camera software to VW
If successfully completed, the transaction will bring Hella extraordinary income of around 100 million euros. The business activities to be sold are located at Hella Aglaia Mobile Vision GmbH, a wholly owned subsidiary of Hella based in Berlin. As part of the sale, around half of Hella Aglaia's workforce will move to Car.Software Org, which Volkswagen founded at the beginning of the year as a cross-brand unit for software development. “The exit from the front camera software business is based on stringent portfolio management,” explains Rolf Breidenbach, Chairman of the Hella Management Board. “With the takeover of Hella’s camera software division and the associated know-how in image processing, we are further advancing the development of expertise in the area of machine vision and strengthening our position in the development of safe and innovative driving functions,” says Dirk Hilgenberg, CEO of Car.Software Org.