Hinduja Tech to acquire Germany's Tecosim Group for €21 mn

Hinduja Tech, a subsidiary of Ashok Leyland, will acquire the Germany-based engineering firm, Tecosim Group, for €21 million (approximately ₹190 crore). This move is aimed at expanding Hinduja Tech's presence in the European market and enhancing its global capabilities in mobility engineering services. 

In a regulatory filing, Ashok Leyland confirmed the transaction's enterprise value of €21 million. This acquisition allows Hinduja Tech to gain a foothold in Europe, extending its reach and access to key customer accounts. 

This addition is expected to enhance Hinduja Tech's global delivery footprint, providing strengthened regional delivery centers for European customers and a near-shore delivery offering. 

Kumar Prabhas, CEO of Hinduja Tech Limited, said, "We are delighted to have TECOSIM Group join the Hinduja Tech family. This acquisition aligns with our strategic goal to become a global leader in mobility engineering services.” 

Udo Jankowski, Managing Director of the Tecosim Group, said, "It’s an exciting milestone for Tecosim. We are eager to leverage Hinduja Tech's core competencies and industry knowledge to drive growth and deliver unmatched value to our clients." 

The acquisition is expected to close in the coming months, pending regulatory approvals. Post-completion, Hinduja Tech and Tecosim will begin integrating their resources and strengths.  

In 2022, Hinduja Tech acquired Drive System Design, enhancing its e-mobility solutions for global markets. Now, with the acquisition of Tecosim Group, Hinduja Tech aims to elevate its service offerings by integrating Tecosim's advanced engineering expertise into its portfolio.