Autonomous Vehicle News
HCLTech, the third largest IT company in India, has signed an agreement to acquire a 100% equity stake in a German automotive engineering services provider, ASAP Group, for a total enterprise valuation of USD 279.72 million. The acquisition will enable the IT company to scale up its global leadership in engineering services by strengthening its advanced technology capabilities. ASAP Group, headquartered in Ingolstadt, Germany, is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility, and connectivity. “ASAP has developed exciting capabilities in automotive engineering, and we share their vision for the future of mobility. In 2018, HCL showcased its interest in the field of IoT and autonomous vehicles, including a platform developed in collaboration with IIT-Madras.