M&A
KPIT Tech to acquire Future Mobility Solutions for 15.6 M Euros
Publicly-listed KPIT Technologies Limited has acquired an initial 25% shareholding in German company Future Mobility Solutions GmbH (FMS). Over a period of three years, KPIT will acquire the balance shareholding. The total consideration for 100% shareholding will not exceed Euros 15.6 million (about USD 18.25 million). FMS is headquartered in Gaimersheim and has an office in Frankfurt. With an employee strength of 50+, FMS is engaged in software development for Autonomous Driving, ADAS & Vehicle Safety and Integration & Validation. It had reported a Turnover of Euros 4.30 million for the year ended December 31, 2020.
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