Deutz has acquired fellow-German company Futavis, a development service provider of battery management hardware and software. Now Deutz subsidiary Torqeedo can include battery technology in the high-voltage range.
With the acquisition of Cologne-based Futavis GmbH, Deutz AG is supplementing its electrification strategy with the critical core component of batteries, as the listed company announced. Futavis has extensive technical know-how in the fields of electronics, software, battery technology and battery testing as well as the safeguarding of functional safety. The parties have agreed not to disclose the purchase price.
“Battery technology is a vitally important element of our E-DEUTZ strategy, which we will be further expanding with the Futavis acquisition,” says Deutz CEO Frank Hiller. “With Futavis adding to the strong systems expertise of our DEUTZ and Torqeedo development teams by contributing its knowledge of components for high-voltage batteries, battery management systems, and safety engineering, we are taking the next step towards CO2 free off-highway-mobility”.
Futavis is still a young company and was founded in 2013. According to Futavis, the battery specialist employs around 30 people, and the company is targeting annual sales of more than five million euros for the current year. Deutz says Futavis’ clients include “well-known customers in the automotive and commercial vehicle sectors”.
Futavis founder Jens Bockstette welcomed the takeover by the Cologne-based engine developer. Deutz has a “strong global brand, access to worldwide markets for high-performance on- and off-highway drive systems, and systems engineering development expertise,” Bockstette explained. “And last but not least, the collaborative partnership has worked very well over the past few months,” he added.
Following the acquisition of the electric drive specialist Torqeedo in 2017, Deutz increasingly focused on electrical solutions and expanded the electrified offerings in its product range.