KPIT Technologies has entered into an agreement with Vayavya Labs (VL) and its shareholders for acquiring majority stake in VL. The proposed acquisition of VL will give the company a head start in the field of simulation and embedded software automation, across the focus practices of KPIT. It will also help in creating a differentiated positioning and a definite early mover advantage in newer opportunities in the areas of simulation.
The total consideration for 100% stake will not exceed Rs 41.8 crore. Initially 78.47% stake is proposed to be purchased for a consideration of Rs 24.56 crore. The balance stake is proposed to be acquired over a period of 2 years.
KPIT is a global technology company focused on automotive engineering and mobility solutions. Leveraging the company’s two decades of experience in automotive engineering, KPIT is building engineering solutions and products to create safe, smart, and sustainable mobility in India and other developing countries.
