Tata Technologies, a product engineering and digital services company, has entered into a definitive agreement to acquire 100 percent equity shares of ES-Tec GmbH and its subsidiaries (collectively, ES-Tec Group) for a total cash consideration of €75 million.
The consideration will be paid over the next two years and includes performance-based earn-outs linked to strategic milestones. The transaction is expected to be EPS accretive from the first full year of operations itself.
Founded in 2006 and headquartered in Wolfsburg, Germany, ES-Tec Group is a premium automotive engineering services provider with deep domain expertise in Driver Assistance Systems (ADAS), Comfort Electronics, and E-Mobility. [Read more…] about Tata Technologies to acquire ES-Tec Group for €75 million