MILAN (Reuters) - Italian tyremaker Pirelli and German tech group Robert Bosch GMBH will jointly develop a software-based "intelligent tyre" technology, the two companies said Tuesday.

The new system aims to improve safety, comfort, sustainability and driving dynamics, combining Pirelli's tyre-integrated sensors and Bosch' hardware and software expertise.

"It will be possible to collect, process, and transmit real-time tyre data to provide parameters for the vehicle's electronic control system," the two companies said.

In an initial joint project, Bosch developed a stability control application for Pirelli tyres fitted on Pagani Italian supercars, they added in the statement.

Pirelli and Bosch did not provide financial details for their agreement.

(Reporting by Giulio Piovaccari, editing by Alvise Armellini)