KPIT Technologies to acquire Future Mobility Solutions for ₹135 crore
The first tranche of 25 per cent will be completed in September 2021, and 100 per cent acquisition is expected by the last quarter of FY 23-24, it added.
"The total consideration for 100 per cent shareholding will not exceed 15.6 million euros," it said.
FMS is engaged in software and feature development in autonomous driving, ADAS (Advanced Driver Assistance Systems) and vehicle safety, and integration and validation. Established in September 2016, FMS' turnover stood at 4.30 million euros in calendar year 2020. The
Its turnover is expected to be 5.4 million euros in calendar year 2021, the filing said.
"FMS will add certain unique proprietary offerings in the autonomous driving domain. The partnership will improve KPIT access to one strategic client with new offerings and strengthen KPIT market presence in Germany," it added.
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