Technica Engineering is headquartered in Munich and has a presence in Spain, Tunisia, and the USA, with a team of 600+ engineers.
The deal is expected to be closed by the end of October 2022, post fulfillment of customary closing conditions, and at the end of it, Technica Engineering will be fully owned by KPIT Technologies. The deal will be EPS accretive upon consolidation.
"Mobility industry is using software to drive innovation and is creating a post-vehicle sale business model driven by delivering services to end consumers. We are constantly looking for possibilities to help accelerate our client's vision. With Technica Engineering, we will strengthen value and scale of operations across the stack. We have common strategic clients who will benefit, and we also get access to leading disruptor mobility tech companies," said Mr. Kishor Patil, Co-founder, CEO and MD of KPIT Technologies.
"SDV demands a significant change in the electronics architecture moving from distributed-low-compute devices to central-high-compute. Rapid prototyping of high-compute hardware and vehicle architecture is critical to validate changes in architecture as the industry makes this transition. Together we will offer a one-stop shop for the industry to migrate rapidly towards SDV by speeding up prototyping and software access and reducing workflow complexities for clients," said Mr. Anup Sable, CTO at KPIT Technologies.
"For the last 14 years, Technica has built a team passionate about cutting-edge tech in network architecture and system prototyping. A partner with a vision and value match was crucial to scale and create leadership in this space. We are delighted to find that in KPIT. We are confident that together we will play a key role in shaping the future of the mobility industry," said Mr. Joseba Rodriguez Martinez, CEO of Technica Engineering.
"Integration boundaries between system architecture, hardware, and middleware software are getting blurred. Our goal is to create production-ready system prototyping, network designs, communication drivers, tooling, and testing solutions that redefine the industry benchmark. The power of software competence of KPIT will make these solutions exponentially more valuable," said Mr. Thomas Königseder, CTO of Technica Engineering.