Infosys acquires German engineering firm in-tech for $480Mn
MUNICH, GERMANY — Digital services and consulting provider Infosys has announced the acquisition of in-tech, a German engineering services provider focused on the automotive industry.
The deal, valued at around €450 million ($480 million), is expected to close in the first half of fiscal year 2025, subject to regulatory approvals.
Strategic expansion into automotive engineering
in-tech offers digitization in the automotive, rail transport, and smart industry sectors. The company specializes in developing solutions for e-mobility, connected and autonomous driving, electric vehicles, off-road vehicles, and railroads.
With a robust team of 2,200 professionals spanning Germany, Austria, China, the United Kingdom, and nearshore hubs, in-tech enriches Infosys with its strong client relationships with renowned German original equipment manufacturers and extensive industry expertise.
Riding the engineering M&A trend
The acquisition rides the trend among IT services firms to purchase engineering research and development firms to boost their revenues. Last year, IT firm HCLTech acquired a 100% equity stake in ASAP Group, a German automotive engineering services provider.
Dinesh Rao, Infosys EVP & Co-Delivery Head, Infosys Topaz – the firm’s Generative AI platform – and its recent acquisition of semiconductor company InSemi, aligns with their mission to boost innovation in the automotive industry.
Meanwhile, Jasmeet Singh, Infosys EVP and Global Head of Manufacturing, pointed out that the automotive industry is undergoing a major evolution, noting that the future of the segment will hinge on advanced electronics and top-notch software.
Tobias Wagner, in-tech CEO, said of the deal: “With access to more talent and expertise, we gain incredible strength and scale in our delivery capability, enabling us to successfully implement even more ambitious projects.”
Infosys secured the #8 spot in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.
