IBB and Hasso Plattner sell OpenSynergy to Panasonic

Following the acquisition, Panasonic will fully own OpenSynergy, which it plans to operate as a separate business within the group. The deal is supposed to help Panasonic strengthen its position in the automotive technology sector - the business develops software for self-driving cars, among others.

Hasso Plattner had been invested in OpenSynergy since March 2008, when it provided the first round of financing for the business. The VC reinvested in 2009 and was joined by IBB Beteilligungsgesellschaft in the third round of financing in 2010.

The OpenSynergy deal follows the buyout of another German technology business by an Asian player this year: Chinese electronics producer Midea is currently awaiting regulatory approval for its acquisition of robotics business Kuka.

Company
OpenSynergy provides car-based entertainment and information systems integration via its COQOS product line. Its products aim to enable the convergence of instrument clusters, head units, driver assistance systems and car connectivity systems.

The company was founded in July 2007, is based in Berlin and employs 30 staff.

People
Hasso Plattner Ventures - Yair Re'em (managing director).
IBB Beteiligungsgesellschaft - Stephan Schulze (investment director).
OpenSynergy - Stefaan Sonck Thiebaut, Rolf Morich (co-CEOs).
Panasonic - Hirotoshi Uehara (executive officer and director of automotive infotainment business).

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