KPIT Tech acquires strategic stake in Automotive Engineering Services Company

India Infoline News Service | Mumbai | December 01, 2016 10:27 IST

The fixed consideration will be Euro 9.3 million. The total consideration will include additional variable consideration, which is based on achievement of certain financial parameters over the next 4 years.

KPIT Tech, product engineering and IT consulting partner to Automotive, Manufacturing and Energy companies, announced today that it has completed an agreement for a strategic partnership in a Germany headquartered Engineering Services Company.

The fixed consideration will be Euro 9.3 million. The total consideration will include additional variable consideration, which is based on achievement of certain financial parameters over the next 4 years.

The strategic partner, MicroFuzzy, has over 20+ years of proven engineering expertise on Powertrain systems and Drivetrain Electronics. It has core expertise in the areas of Software development for E-Mobility, E/E Architecture, End to End Test and Validation solutions for powertrain components. This partnership gives KPIT access to around 150+ specialized engineers.

Speaking about the Partnership, Kishor Patil, CEO & MD of KPIT Technologies said, "We are very excited with this partnership. Powertrain is our largest practice within Automotive Engineering and E-Mobility is a big focus as well as a growth area. With this partnership, we will be able to enhance and bring in next generation offerings in the key growth area of E­ Mobility. This further strengthens our leadership position in the Automotive Engineering dom· ain and bolsters our presence in Germany."
BSE 132.20 0.10 (0.08%)
NSE 132.15 [0.05] ([0.04]%)

***Note: This is a NSE Chart

 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get IIFL express personal loan disbursal in just 8* hours...Know More
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.