HCLTech to acquire German automotive services company ASAP for Rs 2,300 crore
BENGALURU: Tech company HCLTech to acquire ASAP Group, an automotive engineering services provider, for about Rs 2,300 crore. Headquartered in Ingolstadt, Germany, ASAP Group was founded in 2010 and has over 1,550 employees. ASAP’s turnover for the year ending December 31, 2022, stood at 154.3 million Euro.
In a BSE filing, HCLTech said it sees high potential in areas such as autonomous driving, e-mobility and connectivity. ASAP’s services portfolio comprises Electrics/Electronics, Software Development, Consulting Services, TestingValidation, and Vehicle Development.
ASAP serves the top auto original equipment manufacturers (OEMs) and Tier 1 suppliers in Europe. The acquisition will boost the company’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.