Tata Technologies (TATATECH), a company deals in engineering and digital services, announced today that it has agreed to buy all the shares of ES-Tech GmbH and its related companies (together known as ES-Tec Group) for a total of €75 million. This amount will be paid over the next two years and may include extra payments based on performance.
ES-Tec Group was founded in 2006 and is based in Wolfsburg, Germany. They provide high-quality engineering services for the automotive industry. They are speciliazed in areas like Driver Assistance Systems (ADAS), Connected Driving, and Digital Engineering. ES-Tec has over 300 skilled employees and is known for offering complex engineering solutions.
Warren Harris, the Managing Director and CEO of Tata Technologies, said, “Buying ES-Tec Group is a big step that will help us provide complete engineering solutions for the automotive industry. It shows our commitment to grow globally and access innovative engineering skills.”
He added that ES-Tec’s expertise and strong customer focus fit well with Tata Technologies’ goals to become the top choice for car manufacturers looking for smart and sustainable mobility solutions.
Harris also expressed excitement about welcoming the ES-Tec team and mentioned that their integration will improve Tata Technologies’ research and development capabilities, especially in areas like embedded systems and electronics.
This partnership will allow both companies to work together on new mobility programs. Marc Wille, the Managing Director and CEO of ES-Tec, said, “Joining Tata Technologies is an vital step for us to grow and reach more customers around the world. Together, we aim to tackle future challenges in the automotive industry by offering competitive prices, high quality, and quicker development times. Our goal is to help the global automotive industry move forward, and we want to be the preferred partner in the mobility sector.”
The deal is subject to customary closing conditions and regulatory approvals.
