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DEUTZ Acquires Futavis - Quick Facts

DEUTZ AG (DEZBF.PK,DEUZF.PK) has acquired Futavis GmbH, a development service provider for battery management hardware and software. The company said the acquisition enables it to incorporate batteries, a crucial core component, in its electrification strategy. The purchase price was not disclosed.

"Battery technology is a vitally important element of our E-DEUTZ strategy, which we will be further expanding with the Futavis acquisition. We are taking the next step towards CO2 free off-highway-mobility," said Frank Hiller, CEO of DEUTZ AG.

Futavis GmbH has developed and implemented numerous systems for prestigious customers in the automotive and commercial vehicle sectors. Founded in Alsdorf in 2013, it expects revenue of more than 5 million euros in 2019.

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