The Bosch Group has signed an agreement this month to acquire ITK Engineering AG, a development services company headquartered in the town of Rülzheim in Germany's southern Palatinate region.

The company was founded in 1994 as the "Ingenieurgesellschaft für technische Kybernetik" ("Engineering Company for Technical Cybernetics"), or ITK for short. Today, ITK Engineering employs more than 800 people and is a leading service provider in the field of model-based system and software development, specializing in the automotive engineering industries.

"Our acquisition of ITK Engineering will strengthen our position in the global growth market for engineering services," says Dr. Markus Heyn, member of the board of management of Robert Bosch GmbH. It has been agreed that the purchase price will not be disclosed. The transaction is subject to approval by the antitrust authorities.

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