paragon semvox becomes a 100% subsidiary
After completion of the acquisition, paragon semvox GmbH will become a wholly owned subsidiary of CARIAD SE. Currently, more than 140 employees work at the semvox sites in Limbach and Nuremberg. All jobs will be retained. The paragon development teams in India and China will also continue to support semvox.
Dr. Norbert Pfleger, CEO of paragon semvox and one of its founders, emphasizes: "The past four years in the paragon group have already enabled us to grow strongly. However, the acquisition by CARIAD now allows us to shape the next generation of AI assistants at an even greater speed. For our employees, this provides continuity as well as the opportunity to work with CARIAD on one of the most exciting digital ecosystems for the automotive sector. Our current business relationships with our customers are not affected by the transaction and will remain in place."
CARIAD is pursuing the goal of developing key technologies itself: "On our growth path, we are gradually expanding our expertise in strategically important and competitively relevant areas. In addition to recruiting tech talent, we are focusing on acquisitions and partnerships," says Thomas Sedran, Chief Financial Officer at CARIAD. "With the acquisition of semvox, we are continuing this strategy. As a tech partner, we enable the Group brands to offer their customers an attractive digital experience in the software-defined car and to shape it in a target group-specific way."
CARIAD is an independent automotive software company in the Volkswagen Group that is consolidating and further expanding the Group's software competencies. The company is developing the leading technology stack for the automotive industry with the mission to make the automotive experience safer, more sustainable and more comfortable for people. Established in 2020 under the name Car.Software Organization, CARIAD has more than 5,000 experts today working on a unified software platform for all Volkswagen Group brands, comprising an operating system, a unified architecture and an automotive cloud. The new software platform is to be used for the first time in the middle of the decade. The company is also developing digital functions for the vehicle, including driver assistance systems, a standardized infotainment platform, software functions for linking powertrains, chassis and charging technology, as well as the new digital ecosystem and digital services in and around the vehicle. CARIAD has software competence centers in Wolfsburg, Ingolstadt, the Stuttgart region, Berlin and Munich. In spring 2022, CARIAD also launched a development team in China. CARIAD works closely with the Volkswagen Group's international development team in the USA. For more information, visit https://cariad.technology.
paragon GmbH & Co. KGaA
Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon now operates independently with its power business unit following the sale of the Voltabox investment.
In addition to its headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH & Co. KGaA and its subsidiaries have sites in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg) and Limbach (Saarland), as well as in Kunshan (China), Bengaluru (India) and Oroslavje (Croatia). For more information on paragon, visit www.paragon.ag.
Capital Market & Press contact, paragon GmbH & Co. KGaA
Dr. Martin Esser
Phone: +49 (0) 52 50 - 97 62-200
Fax: +49 (0) 52 50 - 97 62-102