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KPIT Technologies inks pact to acquire controlling stake in PathPartner Technology

22 Jun 2021 Evaluate

KPIT Technologies has signed a definitive agreement to acquire a controlling stake in PathPartner Technology. PathPartner is a specialist design service and solution provider of operating system software and low-level software for Automotive, Camera, Radar, and Multimedia devices. The deal is subject to customary closing conditions and is expected to get closed in Q2 FY 2021-22.

KPIT will initially purchase 60 percent stake for a consideration of Rs 890 million, and the balance stake is proposed to be acquired over a period of 2 years against defined growth targets. The total consideration for 100 percent stake will not exceed Rs 1,910 million.

KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future.

Peers
Company Name CMP
TCS 2500.00
Infosys 1155.00
HCL Technologies 1429.75
Wipro 196.15
Tech Mahindra 1780.10
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