KPIT Cummings Ltd. has purchased In2Soft GmbH, a German vehicle diagnostics company. KPIT, an India-based product engineering and IT consultancy, didn’t reveal the financial terms of this deal.
This move is an example of how Indian suppliers are making their presence felt in Europe by taking over companies that have special expertise or access to European automakers and suppliers.
The deal with In2Soft is part of KPIT Cummings' move to deepen its ties with German automakers and Tier 1 suppliers.
In a statement, KPIT Cummins CEO Kishor Patil said that vehicle diagnostics are “very high on automotive OEMs priority [lists] worldwide.”
It will now leverage the technology made by In2Soft to service automotive OEMs throughout the US and growing markets aside from Europe.
He added that with In2Soft, it will be able to create a “local onsite and near-shore presence,” which is vital for key German customers.
He also said that with In2Soft, he expects “a very profitable synergy.” In2Soft GmbH’s customers include BMW AG, Daimler AG, Volkswagen AG, Porsche AG, Robert Bosch GmbH and Continental AG. [via autonews - sub. required]