11-05-2023 | Corporate & Ad-hoc news | Financial news | Press releases

paragon: Sale of AI subsidiary paragon semvox to CARIAD completed

Delbrück | May 11, 2023 - paragon GmbH & Co. KGaA (ISIN DE0005558696] has closed the acquisition of AI specialist paragon semvox, a subsidiary of the listed automotive supplier, by CARIAD SE, the software company of the Volkswagen Group. The closing of the transaction could take place today after all contractually agreed conditions were met.

After the closing of the acquisition, paragon semvox GmbH is now a wholly owned subsidiary of CARIAD SE with more than 140 employees at the semvox locations in Limbach and Nuremberg. All jobs will be retained. The paragon development teams in India and China will also continue to support semvox.