Bosch in the Netherlands has acquired the software and engineering business of TTA International. Baker Tilly Berk, the Dutch member firm of Baker Tilly International, acted as the lead advisor to seller TTA, while buyer Bosch was supported by law firm AKD.
TTA International was founded in 1987 and initially focussed on providing technical training to automotive importers, and later on similar L&D activities to car- and motor manufacturers. In the 90’s the firm diversified into software and engineering services, with a focus on the creation of wiring diagrams, which are used for diagnostic purposes. TTA currently employs 130 people in the Netherlands and Germany, and also has offices/alliances in Antwerp, New Delhi, Rome and London.
In line with TTA’s aims to concentrate on its core training business, the company has divested its software and engineering practice to Bosch’s automotive business. As part of the deal – for which financial terms and conditions have not been disclosed – twenty professionals will transfer to Bosch Automotive Aftermarket, based in Breda, the Netherlands. The transaction is still subject to regulatory conditions, and is expected to be cleared by the end of the summer.
With the move, Bosch significantly expands its diagnostics portfolio for the automotive industry. “The software and engineering services business from TTA complements our business very well,” says Uwe Thomas, President of the Bosch Automotive Aftermarket division. “With this acquisition we can continue to put our strategic aim of expanding our service and wiring portfolios into practice,” he adds.
Seller TTA International, who was advised by corporate finance experts from Baker Tilly Berk during the transaction, will going forward re-focus its activities to learning & development, the DNA of its business. Robbert d’Hont, Director Learning Solutions at TTA International, comments: “This is a great opportunity for all of us at TTA. While the acquisition by Bosch [advised by lawyers from AKD] greatly enhances the opportunity for the engineering activities it definitely enables us to move ahead and take the next step in reaching our full potential when it comes to the development and delivery of learning solutions.”