M&A

M&A

Engg services provider BlueBinaries to acquire automotive testing biz of Germany’s MicroNova

Press Release   Business Line   BlueBinaries   MicroNova  

Chennai-based BlueBinaries is to acquire the automotive testing business of Germany-based MicroNova . The transaction is expected to conclude within the next 60 days and will be financed through a combination of existing and new investors.Founded by Kishore LM, BlueBinaries provides software and engineering services for the mobility industry. The acquisition adds MicroNova’s expertise in test systems, specifically Hardware-in-the-Loop (HIL) systems, to the company’s service portfolio. Post deal, the acquired business will operate as a separate entity within the BlueBinaries group under the name NovaBinaries GmbH.Following the acquisition, BlueBinaries anticipates its total revenue for the current fiscal year will exceed USD 50-M. It is also exploring expansion into aerospace, industrial automation, and robotics.