Hinduja Tech acquires Tecosim group for enterprise value of €21 mn
Hinduja Tech Ltd (HT) said it was acquiring Germany-based Tecosim Group through its wholly owned subsidiary HT GmbH for an enterprise value of €21 million.
This strategic acquisition broadens Hinduja Tech’s presence in the European and international markets and solidifies its position as a leading provider of mobility engineering services worldwide, said the mobility-focused global engineering R&D services company in a statement.
“This acquisition aligns with our strategic goal to become a global leader in mobility engineering services,” said Hinduja Tech CEO Kumar Prabhas.
The automotive engineering services company has presence in Germany, UK, India, Japan, Romania and USA. It posted revenue of €40 million in CY23 and has 650 employees.
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