Core engineering is at the heart of HCLTech’s DNA, says Sadarahali
HCLTech, a leading global technology company, has signed a definitive agreement to acquire 100% equity stake in ASAP Group headquartered in Ingolstadt, Germany.
The transaction is subject to relevant regulatory approvals and is expected to close in September 2023, HCLTech said on 13 July 2023.
ASAP is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility and connectivity, serving top automotive original equipment manufacturers (OEM) and tier 1 suppliers in Germany.
ASAP’s services portfolio comprises electrics and electronics, software, consulting, service testing and validation and vehicle development. ASAP has over 1,600 employees across nine locations in Germany.
HCLTech is a global leader in engineering and R&D services and works with 63 of the top 100 global engineering R&D spenders. The acquisition will boost HCLTech’s global leadership in engineering services by strengthening its advanced technology capabilities in the fast-growing automotive engineering services segment in Europe and other key global markets.
“Core engineering is at the heart of HCLTech’s DNA and truly differentiates our services portfolio. ASAP has developed some exciting capabilities in automotive engineering, and we share their vision for future of mobility,” said Hari Sadarahalli, Corporate Vice President, Engineering and R&D Services, HCLTech.
This agreement will enable us to scale these capabilities and innovations across our global network.
“This investment also reinforces our commitment to Germany, which is a focus market for us. We will continue to nurture local talent and innovation ecosystem to unlock their potential,” Sadarahali said.
“We are delighted to align our growth journey with HCLTech’s purpose of bringing together the best of technology and people to supercharge progress for all stakeholders,” said Michael Neisen, CEO at the ASAP Group.
“We are confident that the combination of HCLTech and ASAP’s engineering and technology performance will bring best-in-class advantages to the automotive industry worldwide.” Fiinews.com
