M&A

M&A

HCL Tech to buy German automotive engg services co ASAP for $282-M

Press Release  

Publicly-listed, Noida-based IT services firm HCL Technologies Ltd to acquire 100% equity in German automotive engineering services provider ASAP Group for 251.1 million euros (about USD 282 million). Headquartered in Ingolstadt, ASAP is focused on automotive technologies in areas such as autonomous driving, e-mobility, and connectivity. It serves top automotive original equipment manufacturers (OEM) and tier 1 suppliers in Germany. ASAP's services portfolio comprises electrics/electronics, software, consulting, service testing and validation and vehicle development. ASAP has over 1,600 employees across nine locations in Germany.