ZF Buys Stake in Radar Company

ZF Friedrichshafen AG has acquired a 45% stake in Germany’s Astyx Communication & Sensors GmbH, which supplies ultra-high-frequency radar sensors and modules used in automated and driver-assist systems.

ZF purchased the stake from German private equity firm Hannover Finanz, which had long been a minority shareholder. Financial terms weren’t disclosed.

Based near Munich, Astyx was formed in 1997 as a spin-off from Daimler-Benz Aerospace AG (now EADS). The company has about 50 employees.

Astyx develops and produces sensors for short- and long-range radar for automotive, aerospace, industrial and satellite-based applications. Under the new partnership, Astyx will work with ZF to develop next-generation radar systems.

ZF has made several acquisitions in recent years to expand its capabilities in technology related to advanced driver assist systems.

Most notably, The company purchased TRW Automotive in 2015 and bought a 40% stake in lidar-specialist Ibeo Automotive last August. Last year ZF also bought a 40% share of doubleSlash Net-Business GmbH, a German software company involved in vehicle networking.

ZF manages acquisitions in technology startups through a subsidiary it set up in October called Zukunft Ventures GmbH.