Elektrobit changes name to Bittium
The sale of Elektrobit’s automotive business to supplier Continental is completed. At the same time, the remaining (non-automotive) part of the Finnish company has been renamed to Bittium.
The purchase agreement with Continental was signed on May 18, and the transaction was closed on July 1, 2015. According to an Elektrobit release, Continental paid about $665.06 million for the subsidiary headquartered in Erlangen (Germany).
Along with the completion of the transaction the name of the company has been changed to Bittium Corp. The company said it will continue to offer products and product platforms, R&D services and customised solutions related in the wireless sector. Bittium claims to have a strong and extensive expertise in radio technology, embedded software, electronics and product integration. The main target markets are telecommunications and companies needing mobile connectivity in their products. The company said it sees major business opportunities in the defence, public safetyClass X capacitors are used in “across-the-line” applications where their failure would not lead to electric shock. Class X safety caps are used between the “live” wires carrying the incoming AC current. In this position, a capacitor failure should not cause any electrical shock hazards, rather, a capacitor failure “between-the-lines” would usually cause a fuse or circuit breaker to open. and industrial markets.