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February 27, 1997updated 05 Sep 2016 12:29pm

HP TO TAKE OVER SIEMENS AUTO CONTROLS BUSINESS

By CBR Staff Writer

Still diversifying, Hewlett-Packard Co has signed a non-binding memorandum of understanding with Siemens AG to acquire Siemens Automotive’s design application software tools for power-train electronic control units – the electronic controls used in cars for managing the engine, gearbox and other functions, on undisclosed terms. The three-stage arrangement will take 18 months to complete. To start with, HP will acquire the technology and manufacturing rights to the products and exclusive rights to sell and support the tools outside Europe, buying them OEM from Siemens Automotive. In the second stage, HP will take over the manufacturing and design of the tools, and it will finally get exclusive rights to market and support the tools in Europe as well. The Cupertino firm sees the deals leading to a standardization of the tools across the industry.

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