HCL Technologies has agreed to acquire a 100% stake in the German automotive engineering services provider ASAP Group for Rs 2,300 crore. The acquisition is an all-cash deal via the company’s UK subsidiary and will be completed by September 2023.

HCL Technologies plans to expand its automotive engineering service segment capabilities. The company wants to expand in e-mobility, autonomous driving, and connectivity in Europe, Germany, and other global markets.

Corporate Vice President, Engineering and R&D Services at HCLTech, Hari Sadarahalli, said, “Core engineering is at the heart of HCLTech’s DNA, and it truly differentiates our services portfolio. ASAP has developed some exciting capabilities in automotive engineering, and we share their vision for the future of mobility. This agreement will enable us to scale these capabilities and innovations across our global network,”.

ASAP Group was founded in 2010, with its headquarters located in Ingolstadt. The company services top automotive original equipment manufacturers (OEM) and tier-1 suppliers in Germany, alongside companies in software, consulting, electrics/electronics, service testing and validation and vehicle development.