HCL Technologies to acquire 100% stake in ASAP Group

HCL Technologies Ltd. | IT - Software | IT & ITES | BSE: 532281 | NSE: HCLTECH

13 Jul 2023 Evaluate

HCL Technologies (HCLTech) has signed a definitive agreement to acquire a 100 per cent equity stake in ASAP Group, an automotive engineering services provider. The transaction is subject to relevant regulatory approvals and is expected to close in September 2023.

Headquartered in Ingolstadt, Germany, ASAP is focused on future-oriented automotive technologies in areas such as autonomous driving, e-mobility and connectivity. ASAP serves top automotive original equipment manufacturers (OEM) and tier 1 suppliers in Germany. ASAP's services portfolio comprises electrics/electronics, software, consulting, service testing and validation and vehicle development. ASAP has over 1,600 employees across nine locations in Germany.

HCLTech is a global leader in engineering and R&D services and works with 63 of the top 100 global engineering R&D spenders. The acquisition will boost HCLTech's global leadership in engineering services by strengthening its advanced technology capabilities in the fast-growing automotive engineering services segment in Europe and other key global markets.

HCLTech sees high potential in areas such as autonomous driving, e-mobility and connectivity. ASAP’s services portfolio comprises of Electrics/Electronics, Software Development, Consulting Services, Testing-Validation, and Vehicle Development. ASAP serves the top auto original equipment manufacturers (OEMs) and Tier 1 suppliers in Europe. In coming together of E&E/ Software Development and related capabilities of the target and HCLTech’s own presence in the automotive space, the combined business will be a platform for growth in Germany and for further expansion into other key automotive markets in Europe, Americas and Japan.

HCL Technologies is a leading global IT services company that helps global enterprises reimagine and transform their businesses through digital technology transformation.

HCL Tech. Share Price

1200.45 1.50 (0.13%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
TCS	2430.75
Infosys	1168.40
HCL Tech.	1200.45
Wipro	200.80
Tech Mahindra	1470.80
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