Hinduja Tech, a subsidiary of Ashok Leyland, is set to acquire Germany-based engineering firm Tecosim Group for €21 million (approximately ₹190 crore). This strategic move is designed to expand Hinduja Tech’s presence in the European market and enhance its global capabilities in mobility engineering services.
Background on Hinduja Tech
Hinduja Tech, established as a leading provider of engineering, manufacturing, and enterprise solutions, is a key player in the automotive and aerospace sectors. The company has built a reputation for delivering innovative and sustainable engineering solutions that cater to the evolving needs of its clients. With a strong focus on e-mobility and digital transformation, Hinduja Tech has positioned itself as a pioneer in providing comprehensive engineering services worldwide.
In recent years, Hinduja Tech has made significant strides in expanding its global footprint. The company’s acquisition of Drive System Design in 2022 was a strategic move to bolster its e-mobility solutions for international markets. This acquisition allowed Hinduja Tech to integrate advanced drivetrain engineering capabilities into its portfolio, further solidifying its position as a leader in the mobility engineering space.
Expanding European Footprint
In a regulatory filing, Ashok Leyland confirmed the transaction’s enterprise value of €21 million. The acquisition will provide Hinduja Tech with a significant foothold in Europe, extending its reach and access to key customer accounts.
Enhancing Global Capabilities
The addition of Tecosim Group is expected to enhance Hinduja Tech’s global delivery footprint. It will strengthen regional delivery centers for European customers and offer a near-shore delivery option.
Leadership Comments
Kumar Prabhas, CEO of Hinduja Tech Limited, expressed enthusiasm about the acquisition. “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,” he said.
Udo Jankowski, Managing Director of Tecosim Group, echoed this sentiment. “It’s 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,” Jankowski stated.
Future Integration
The acquisition is expected to close in the coming months, pending regulatory approvals. Post-completion, Hinduja Tech and Tecosim will begin integrating their resources and strengths.
Strategic Importance
This acquisition marks a significant step in Hinduja Tech’s strategy to become a global leader in mobility engineering services. By integrating Tecosim’s advanced engineering expertise, Hinduja Tech aims to enhance its service offerings and provide comprehensive solutions to its clients. The move also underscores Hinduja Tech’s commitment to expanding its global presence and delivering high-quality engineering services across multiple regions.
Overall, the acquisition of Tecosim Group is a testament to Hinduja Tech’s dedication to innovation and growth, setting the stage for continued success in the global engineering landscape.
(With inputs from agencies)
