Softing Automotive Electronics wins major order from North America
December 11, 2023 at 06:03 am EST
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EQS-News: Softing AG
/ Key word(s): Incoming Orders
Softing Automotive Electronics wins major order from North America
11.12.2023 / 12:01 CET/CEST
The issuer is solely responsible for the content of this announcement.
Softing Automotive Electronics, a 100% subsidiary of Softing AG, has been commissioned by a North American manufacturer of special vehicles to supply a complete package for the creation of a diagnostic system to service its vehicles.
The contract consists of licenses for the Softing TDX modular system, a maintenance contract for 5 years, services to adapt to the special requirements in the servicing of the vehicles as well as hardware for connecting to the vehicles. Over the next 5 years, a turnover of significantly more than EUR 3 million is expected. The majority of revenue is attributable to software licenses and software maintenance fees. Around EUR 1.5 million will impact cash flow in the first quarter of 2024.
René Schneider, Managing Director of Softing Automotive Electronics GmbH together with Oliver Fieth, commented: "Softing Automotive Electronics has already focused on hardware and software services for vehicle communication over the entire life cycle from development to production and service of vehicles of all drive types. We are proud that yet another leading manufacturer has decided to build a complete service system based on the Softing tool landscape around TDX."
Softing’s TDX modular system is used to create and maintain an individual, modular workshop tester. With the aim of making diagnostics as efficient as possible and thus saving time, the toolbox offers optimal tool support along the dedicated DESIGN – MANAGE – WORK workflow. Manufacturers of vehicles, mobile machines and their control units can thus provide ECU- and problem-specific repair and maintenance procedures within their global service network, taking into account additional security aspects. All necessary diagnostic functions for fault localization, troubleshooting and commissioning of individual components or entire vehicles are supported. User management and rollout are cloud-based.
About Softing AG
Softing is a global management holding company. The companies of the Softing Group produce and market hardware and software in the Automotive Electronics, Industrial Automation and IT Networks segments. They develop high-quality standard technology products and customized solutions in close cooperation with their customers. All three of Softing’s business segments operate in growth markets.
Contact:
Dr. Wolfgang Trier
CEO
11.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Germany
Phone:
+49 (0)89 456 56-333
Fax:
+49 (0)89 456 56-399
E-mail:
InvestorRelations@softing.com
Internet:
www.softing.com
ISIN:
DE0005178008
WKN:
517800
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
Softing AG is a Germany-based software and systems company. The Company operates through two segments: Industrial Automation and Automotive Electronics. The Industrial Automation segment provides tools and devices for signal and protocol analysis of industrial communication networks, gateways for linking fieldbuses to Ethernet-based communication systems and planning and administration systems, as well as interface cards, integration modules, chip solutions and communications software (stacks) for implementing bus links in systems and devices used in process and production automation. The Automotive Electronics segment offers diagnostic solutions for development, testing and production, editors for diagnostic data, diagnostic servers for the real-time processing of diagnostic data, as well as software interfaces for connecting diagnostic servers to production systems and editing and runtime systems for test sequences with connections to numerous third-party products.
SOFTING AG 
