Hinduja Tech Limited (HT), a mobility-focused global engineering R&D services company and a subsidiary of Ashok Leyland, today announced the signing of a agreement to acquire TECOSIM Group. Hinduja Tech has acquired 100% equity shareholding of TECOSIM Group GmbH, Germany at an enterprise value of EUR ~21 million / INR 191 Crores in Indian Rupees.
This strategic acquisition broadens Hinduja Tech’s presence in the European and international markets and solidifies its position as a leading provider of mobility engineering services worldwide. This acquisition, which brings TECOSISM’s 650 employees and expertise, significantly boost Hinduja Tech’s market reach and solidifies its position as a key player in the engineering services sector.
About TECOSIM Group:
Founded in 1991, TECOSIM Group, headquartered in Wiesbaden, Germany, is a globally active engineering company renowned for developing technological solutions that promote sustainable transport, safe and clean energy supply, and a competitive industrial landscape. Started as a German engineering company, the TECOSIM Group has now earned an exceptional reputation in Europe, Asia, and the USA through its global expansion and is known for its expertise in simulation, testing, and engineering services, catering to a diverse range of industries including automotive, energy, and industrial sectors.
The Company has a turnover of Euro 35 million, EURO 39 million and Euro 40 millio
About HT: (https://hindujatech.com/)