Hinduja Tech to acquire Tecosim group for €21 million

Hinduja’s acquisition: Hinduja Tech, a subsidiary of commercial vehicle manufacturer Ashok Leyland, has announced a definitive agreement to acquire the Germany-based Tecosim Group for €21 million (approximately Rs 190 crore).

This strategic acquisition will expand Hinduja Tech's presence in the European and international markets, reinforcing its position as a leading provider of mobility engineering services globally. The transaction, valued at an enterprise worth €21 million, was disclosed in a regulatory filing by Ashok Leyland.

Headquartered in Wiesbaden, Germany, Tecosim Group specializes in developing technological solutions that promote sustainable transport, safe and clean energy supply, and a competitive industrial landscape. In 2023, Tecosim reported a turnover of €40 million and employs 650 people.

Hinduja Tech Ltd is a mobility-focused global engineering R&D services firm. Kumar Prabhas, CEO of Hinduja Tech, stated, "This acquisition aligns with our strategic goal to become a global leader in the mobility engineering services. TECOSIM's technological prowess and market presence in Europe will greatly enhance our capabilities, allowing us to better serve our clients with innovative and sustainable solutions."

The acquisition will enhance Hinduja Tech's global delivery footprint, particularly strengthening regional delivery centers for European customers through a near-shore delivery model. Udo Jankowski, Managing Director of Tecosim Group, commented, "This collaboration will enable us to identify new opportunities and expand our global presence."

The acquisition is expected to be finalized in the coming months, pending regulatory approvals. Upon completion, Hinduja Tech and Tecosim will begin the integration process to merge their resources and strengths smoothly. The companies plan to establish a unified brand strategy that embodies their shared vision and commitment to providing superior technical services.

With PTI Inputs