KPIT Technologies Ltd. announced the acquisition of Technica Engineering, a company specializing in production-ready system prototyping (a combination of network system architecture, hardware prototyping, integration), automotive Ethernet products and validation tools. It will build on full-the-stack expertise while providing a one-stop shop to transform the industry towards SDV.
Technica Engineering is headquartered in Munich and has a team of over 600 engineers in Spain, Tunisia and the USA.
According to the filing, upon satisfaction of customary closing conditions, the transaction is expected to close by the end of October 2022, and at the end Technica Engineering will be 100% owned by KPIT Technologies. This deal will make EPS active in the consolidation.
“The mobility industry uses software to drive innovation and create an after-vehicle business model by providing end-user services. We’re constantly looking for ways to accelerate our customer vision. With Technica Engineering, we will strengthen the value and scale of operations across the stack. We have common strategic customers who will benefit, and we will also have access to leading disruptive mobility technology companies,” said Kishor Patil, co-founder, CEO and managing director of KPIT Technologies.
“SDV calls for a significant shift in electronics architecture from distributed devices with low computing power to centrally executed devices with high computing power. Rapid prototyping of high-computing hardware and vehicle architectures is critical to validating changes in architecture as the industry advances.” causes this infection.
Together we will provide the industry with a one-stop shop for rapid migration to SDV, accelerating prototyping and software access, and reducing workflow complexity for customers,” said Anoop Sable, CTO, KPIT Technologies.
“Over the past 14 years, Technica has built a team passionate about cutting-edge technology in the fields of network architecture and system prototyping. A partner with a vision and value alignment was key to leadership and creation in this space. We are pleased to learn that at KPIT we are confident that together we will play a crucial role in shaping the future of the mobility industry,” said Joseba Rodriguez Martínez, CEO of Technica Engineering.
At around 11:17 am KPIT Technologies was trading 1.13% higher at 580.55 per share on the BSE.
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