M&A
Hinduja Tech acquires German auto engg services co. TECOSIM Group for $23-M
Chennai-headquartered Hinduja Tech Ltd, a subsidiary of publicly listed Ashok Leyland, is to acquire (via Hinduja Tech GmbH) a 100% stake in Wiesbaden, Germany-based automotive engineering services company TECOSIM Group at an enterprise value of Euro 21 million (about USD $23 million). The acquisition will enhance Hinduja Tech's capabilities and market reach in the European and international markets.TECOSIM Group had reported a turnover of Euro 40 million turnover for CY23. It employs over 650.
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