NNG, the Budapest-based developer of the popular iGO Navigation software acquired nFuzion, an American HMI (Human-Machine Interface) prototyping company. The acquisition will allow NNG to broaden its presence in automotive on-board systems, including infotainment and HMI.
Founded in 2000, nFuzion's capabilities range from industrial and UI design to mechanical and electrical engineering. They bring 14 years of in-car entertainment knowledge to NNG, having worked with numerous international car brands, and give NNG a new range of tools, products, and consulting to utilize on future projects. NNG and nfuzion had previously worked together and expressed mutual interest in combining their efforts.
“It was obvious early in our cooperation that we shared a passion for the automotive industry and HMI design, and we recognized the same problems facing automakers today. Combining NNG’s expertise in navigation software and nfuzion’s expertise in HMI design, we can solve those problems” - said Peter Balogh, CEO of NNG.
Now a subsidiary of NNG, the nFuzion team and their offices in Georgia and Virginia will fall under the NNG umbrella. This expansion continues an upward trend for NNG, which has increased its revenue by nearly 50% and its workforce by over 20% in each of the last 4 years. NNG now has close to 700 employees, with further recruitment efforts planned for the future.
NNG started focusing its business on navigation solutions in 2008 and now seven of the world's top ten carmakers use its products. NNG posted an after-tax profit of HUF 4.8 billion (EUR 15,5 million) on revenue of HUF 16.9 billion (EUR 54,5 million) in 2013 according to public records. The company publicly disclosed it has increased its revenue by 46% last year, experiencing a 43.5% increase in its gross profit compared to 2012, while its operating profits increased by nearly 70%.
