M&A

M&A

Automotive industry s'ware co KPIT acquires Germany's Technica Engineering for 90-M euros

BSE Filings   Press Release  

Publicly listed KPIT Technologies has wholly acquired Technica Engineering, a Munich, Germany-based company specializing in production-ready system prototyping and automotive ethernet products, in an all-cash deal. The structuring involves 80 million euros fixed consideration to be paid over 6 months and 30 million euros variable consideration based on achievement of revenue and profit milestones to be payable over the next 2.5 years. The acquisition will result in KPITs' software expertise getting vertically integrated with Technica Engineerings' production-ready system prototyping specialization. Technica Engineering provides technology support for electric and electronic vehicle architecture from design to validation. It has locations in Spain, Tunisia, and the US, with a team of over 600 engineers.