HCLTech surprises the industry by acquiring ASAP Group, a renowned German automotive engineering services provider for a staggering €251 million. This unexpected collaboration seeks to expand ASAPs cutting-edge automotive technologies on a global scale reinforcing HCLTechs dedication to Germany. With great enthusiasm, both companies eagerly look forward to offering top-notch solutions to the worldwide automotive sector.
HCLTech has announced its acquisition of ASAP Group, a German automotive engineering services provider. The deal, worth a whopping €251 million, is anticipated to conclude by September 2023, assuming all regulatory approvals fall into place.
ASAP Group is known for its focus on cutting-edge automotive technologies, such as autonomous driving, e-mobility, and connectivity. With a workforce of 1,600 spread across nine locations in Germany, ASAP caters to the needs of automotive original equipment manufacturers (OEMs) and tier-I suppliers in the country.
Expressing his enthusiasm, Hari Sadarhalli, the corporate vice-president of engineering and R&D services at HCLTech, exclaimed, “ASAP has managed to conjure up some mind-blowing capabilities in automotive engineering, and we share their vision for the future of mobility!”
Furthermore, Sadarhalli made it clear that this investment reaffirms HCLTech’s devotion to Germany, a focus market for this Indian IT giant. ASAP Group, on the other hand, boasts a mind-numbing five service segments—electric/electronics, software, consulting and service, testing, and vehicle development.
In a statement, Michael Niesen, the chief executive of ASAP Group, declared, “We are overjoyed to synchronize our growth journey with HCLTech’s purpose of melding technology and people to propel progress for all stakeholders.”
Niesen remains confident that the blend of HCLTech and ASAP’s engineering and technology prowess will result in unparalleled excellence for the global automotive industry.
