First publishedon www.AggBusiness.com
DEUTZ CEO Dr. Frank Hiller
Off-road engine manufacturer DEUTZ has bought fellow German company Futavis, a development service provider for battery management hardware and software.
Cologne-based DEUTZ says the acquisition, made for an undisclosed sum, enables it to incorporate the crucial core component of batteries into its electrification strategy.
Futavis has extensive technical expertise in electronics, software, battery technology, and battery testing and in ensuring functional safety. The acquisition means that the systems knowledge of DEUTZ subsidiary Torqeedo in the area of electric drives will be supplemented with the high-voltage battery technology of Futavis.
“Battery technology is a vitally important element of our E-DEUTZ strategy, which we will be further expanding with the Futavis acquisition,” said DEUTZ CEO Dr. Frank Hiller. "With Futavis adding to the strong systems expertise of our DEUTZ and Torqeedo development teams by contributing its knowledge of components for high-voltage batteries, battery management systems, and safety engineering, we are taking the next step towards CO2 free off-highway-mobility."
Futavis founder and MD Dr. Jens Bockstette said that DEUTZ is the ideal partner that will enable his company to continue to grow and scale up.
"It has a strong global brand, access to worldwide markets for high-performance on- and off-highway drive systems, and systems engineering development expertise," he added. "And last but not least, the collaborative partnership has worked very well over the past few months."
Futavis has developed and implemented a range of systems for customers in the automotive and commercial vehicle sectors. Founded in Alsdorf in 2013, the company employs around 30 people and aims to generate revenue of over €5mn in 2019.