This strategic acquisition broadens Hinduja Tech's presence in the European and international markets.
17 Jul 2024 | 2885 Views | By Autocar Professional Bureau
Hinduja Tech Limited, a mobility-focused global engineering R&D services firm and a subsidiary of Ashok Leyland, has signed a definitive agreement to acquire TECOSIM Group.
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 ...
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Hinduja Tech Limited, a mobility-focused global engineering R&D services firm and a subsidiary of Ashok Leyland, has signed a definitive agreement to acquire TECOSIM Group.
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. The company gains a strategic foothold in Europe, expanding its geographic reach and gaining access to key customer accounts. With TECOSIM, Hinduja Tech strengthens its global delivery footprint with enhanced capabilities and strengthened regional delivery centers for European customers with a near- shore delivery offering.
The acquisition significantly enhances Hinduja Tech's capabilities and market reach. The TECOSIM Group, with over 650 employees, brings a wealth of expertise and innovative solutions to the table, solidifying Hinduja Tech's position as a key player in the engineering services sector.
Kumar Prabhas, CEO of Hinduja Tech Limited, said, "We are delighted to have TECOSIM Group join the Hinduja Tech family. This acquisition aligns with our strategic goal to become a global leader in 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. We look forward to working with the team."
Udo Jankowski, Managing Director of the TECOSIM Group, said, "Joining forces with Hinduja Tech is an exciting milestone for TECOSIM. We are eager to leverage Hinduja Tech's core competencies and industry knowledge to drive growth and deliver unmatched value to our clients. This collaboration will enable us to identify new opportunities and expand our global presence."
The acquisition is anticipated to close in the upcoming months, pending regulatory approvals. After completion, Hinduja Tech and TECOSIM will initiate the integration process to merge their resources and strengths smoothly. The organizations intend to establish a unified brand strategy that embodies their shared vision and dedication to providing superior technical services.
The former acquisition of Drive System Design (DSD) in December 2022 propelled Hinduja Tech to offer best-in-class e-mobility solutions for global markets. Continuing the growth trajectory, with the acquisition of the TECOSIM Group, Hinduja Tech is set to elevate its service offerings by seamlessly integrating TECOSIM's advanced engineering expertise into its existing portfolio. This strategic collaboration will allow us to provide comprehensive, end-to-end solutions, especially in computer- aided engineering and simulation. Our customers can look forward to enhanced service efficiency, access to a wider range of innovative engineering solutions, and an overall improved experience. This move not only strengthens our global presence but also reaffirms our commitment to delivering cutting-edge technologies and exceptional service.