HCLTech, a prominent IT services provider, has successfully finalized its acquisition of ASAP Group, a German automotive engineering services company, on August 31st. The acquisition, initially announced on July 12, was confirmed through a filing with the BSE (Bombay Stock Exchange).
HCLTech stated, “The Company had intimated the acquisition of 100% stake in ASAP Group, an automotive engineering services provider headquartered in Germany along with a disclosure under Regulation 30(4) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. We would like to inform you that the aforesaid acquisition has been completed effective August 31, 2023.”
Founded in 2010 and based in Ingolstadt, Germany, ASAP Group collaborates with renowned automotive original equipment manufacturers (OEMs) and tier-1 suppliers in Germany. Their range of services encompasses areas such as electrics/electronics, software, consulting, service testing and validation, as well as vehicle development.