By Infosys has announced a definitive agreement to acquire 100% of R&D engineering firm In-Tech, which is focused on the German automotive industry.
The move will strengthen Infosys engineering R&D capabilities, it says.
In-Tech develops solutions in e-mobility, connected and autonomous driving and EVs.
It will bring 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.
Jasmeet Singh, EVP and Global Head of Manufacturing, Infosys, said: “The automotive industry is undergoing a transformational transformation, with connected, autonomous and electric vehicles and, most importantly, software-defined vehicles.”
Despite the takeover, In-Tech will remain active in the market as an independent company.
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Tobias Wagner, In-Tech CEO, said, “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.”
The acquisition’s completion is subject to subject to customary closing conditions and regulatory approvals.
