Bird & Bird advises KINEXON on sale of "Brain" to Continental
Contacts
International law firm Bird & Bird has advised KINEXON Industries GmbH on the sale of its specialised division of the on-board operating system "Brain" to Continental Automotive Technologies GmbH.
The transaction will enable KINEXON to focus on the fast-growing sector of centralised control for driverless transport systems and to further expand its software for fleet management. Regardless of the deal, KINEXON and Continental intend to continue their existing partnership in other areas.
To strengthen its own position in the field of mobile robotics, Continental is taking over the division of intelligent control of autonomous, mobile transport robots. Not only will the technology and the corresponding licences (IP rights) for this market-leading and well-tested solution be transferred from KINEXON to Continental, but also the respective development team responsible for the solution will work for the supplier in the future.
The sale took place by way of an asset deal. Both companies have agreed not to disclose the purchase price and further details of the transaction.
KINEXON Industries GmbH was advised by the following Bird & Bird lawyers: Lead partner Stefan Münch, counsel Michael Gassner (both Corporate/M&A, Munich), partner Dr. Henriette Picot and counsel Michaela von Voss (both Commercial/Tech&Comms, Munich).
Background:
The team led by partner Stefan Münch has been advising the Munich-based KINEXON Group for many years, most recently on its Series A financing round of USD 130 million read here.