Rao creates deeper capabilities for next phase of automotive innovation
Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) says the strategic acquisition of in-tech, a leading Engineering R&D services provider focused on German automotive industry, is to further strengthen its Engineering R&D capabilities and reaffirms its continued commitment to global clients to navigate their digital engineering journey.
Headquartered in Garching, Germany, in-tech https://www.in-tech.com/en , is one of the fastest growing Engineering R&D services providers that shapes digitization in the automotive, rail transport and smart industry sectors. in-tech develops solutions in e-mobility, connected and autonomous driving, electric vehicles (EV’s), off-road vehicles and railroad.
Infosys https://www.infosys.com/ has signed a definitive agreement to acquire in-tech, the offerings of which include system design, methodical consulting, advanced electronics platform development and validation of automotive specific software and hardware systems, infotainment, and experience validation.
in-tech brings to Infosys marquee German original equipment manufacturers (OEMs) deep client relationships, and an extensive industry expertise with a multidisciplinary team of 2,200 people across locations in Germany, Austria, China, UK, and nearshore locations in Czech Republic, Romania, Spain, and India.
“Together with in-tech, Infosys Topaz, an AI-first set of services, solutions and platforms, and recently acquired InSemi’ semiconductor’s expertise, we have successfully created deeper capabilities for the next phase of automotive innovation in the arena of software defined vehicles,” said Dinesh Rao, EVP & Co-Delivery Head, Infosys.
“Infosys continues to strengthen its Engineering R&D leadership with decades of experience in digital engineering. We are excited to welcome in-tech and its leadership team into the Infosys family,” he said on 18 Apr 2024.
Jasmeet Singh, EVP and Global Head of Manufacturing, Infosys, elaborated, “The automotive industry today is going through a pivotal change, with connected, autonomous, and electric vehicles, and most importantly software-defined vehicles. Electronics and software will drive value for next generation vehicles.
“Infosys’ leadership with comprehensive offerings serving global auto OEMs, tier-one, and e-mobility start-ups, coupled with in-tech’ engineering prowess presents a differentiated value to our clients bringing high quality innovative products to market faster.”
Tobias Wagner, in-tech CEO, said, “Over the past 22 years, we have created an impressive company history, characterized by organic growth, strategic acquisitions and high profitability. This strategic partnership with Infosys represents a decisive turning point for us: It opens up unprecedented growth opportunities, and also adds tremendous value to our offering for our clients.
“Together we now cover the entire end-to-end process, a step that is crucial to fully meet our customers’ needs. With access to more talent and expertise, we gain incredible strength and scale in our delivery capability, enabling us to successfully implement even more ambitious projects.”
in-tech Founder and Board Member, Christian Wagner, added, “When choosing Infosys, it was important to us that not only the business goals but also the corporate cultures harmonize. I am thrilled that Infosys and in-tech are not only on the same wavelength in terms of innovation and technology, but that we also share the same values – be it our passion for sustainability or our desire to create a work environment where everyone feels valued. This cultural fit amplifies my belief that we will achieve extraordinary success together.”
The acquisition is expected to close during the first half of fiscal 2025, subject to customary closing conditions and regulatory approvals. Fiinews.com
