CHENNAI: Hinduja Tech (HT), the mobility-focused engineering and R&D subsidiary of Ashok Leyland, has signed a definitive agreement to acquire German automotive engineering services company TECOSIM Group.
The shares have been acquired at an enterprise value of 21 million euro.
Hinduja Tech India, through its wholly owned subsidiary Hinduja Tech GmbH, will acquire 100% shareholding in TECOSIM Group Germany for cash consideration. The deal will be completed by September 30.
The acquisition will significantly enhance Hinduja Tech’s “capabilities and market reach” said a company statement. The TECOSIM Group, with over 650 employees and 40…
The shares have been acquired at an enterprise value of 21 million euro.
Hinduja Tech India, through its wholly owned subsidiary Hinduja Tech GmbH, will acquire 100% shareholding in TECOSIM Group Germany for cash consideration. The deal will be completed by September 30.
The acquisition will significantly enhance Hinduja Tech’s “capabilities and market reach” said a company statement. The TECOSIM Group, with over 650 employees and 40…