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ZAGREB (Croatia), May 21 (SeeNews) - German software development company CETITEC Group, majority-owned by Porsche, has acquired Croatian peer Cutting Edge Technologies (CET), Croatian media reported.
The Croatian company, renamed to CETITEC d.o.o., will produce the most complicated components for the German car manufacturer such as embedded software, Medjimurske Novine newspaper reported last week.
The value of the transaction was not disclosed.
The Croatian company started its business in 2014 by software development engineer Bojan Kolmanic. Having started with four employees, it currently employs 13 people.