Tata Technologies acquires Germany-based ES-Tec Group for €75 million

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Tata Group’s digital and engineering services arm Tata Technologies (TTL) has acquired Germany-based ES-Tec Group for €75 million as the company looks to deepen its presence in Europe and strengthen its play in next-gen automotive engineering.

The all-cash deal, which will be completed over two years will be based on Es-Tec meeting certain performance objectives over two years. The acquisition is expected to be EPS accretive from the first full year of operations, TTL said in a statement late Saturday.

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Tata Technologies acquires Germany-based ES-Tec Group for €75 million



Tata Group’s digital and engineering services arm Tata Technologies (TTL) has acquired Germany-based ES-Tec Group for €75 million as the company looks to deepen its presence in Europe and strengthen its play in next-gen automotive engineering.

The all-cash deal, which will be completed over two years will be based on Es-Tec meeting certain performance objectives over two years. The acquisition is expected to be EPS accretive from the first full year of operations, TTL said in a statement late Saturday.

Founded in 2006 and headquartered in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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