Technology company HCLTech has signed a definitive agreement to acquire a 100% equity stake in ASAP Group, a German automotive engineering services provider focused on next-generation technologies including autonomous driving, e-mobility and connectivity.
Based in Ingolstadt, ASAP has more than 1,600 employees and serves a wide variety of OEMs and Tier 1 suppliers in Germany. Its services portfolio consists of electrics/electronics, software, consulting, service testing and validation, and vehicle development.
The acquisition of ASAP will bolster HCLTech’s advanced technology capabilities in the ever-growing automotive engineering services segment in Europe and other important international markets.
The transaction is subject to relevant regulatory approvals and is expected to close in September 2023.
“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 the future of mobility. This agreement will enable us to scale these capabilities and innovations across our global network,” said Hari Sadarahalli, corporate vice president of engineering and R&D services at HCLTech. “This investment also reinforces our commitment to Germany, which is a focus market for us. We will continue to nurture local talent and the innovation ecosystem to unlock their potential.”
“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 ASAP Group CEO Michael Neisen. “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.”
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