NOIDA, India and INGOLSTADT, Germany, July 12, 2023: HCLTech, a leading global technology company, today announced it has signed a definitive agreement to acquire 100% 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.
“Core engineering is at the heart of HCLTech’s DNA and truly differentiates our services portfolio. ASAP has developed some exciting capabilities in automotive engineering, and we share their vision for future of mobility. This agreement will enable us to scale these capabilities and innovations across our global network,” said Hari Sadarahalli, Corporate Vice President, Engineering and R&D Services, HCLTech. “This investment also reinforces our commitment to Germany, which is a focus market for us. We will continue to nurture local talent and innovation ecosystem to unlock their potential.”
“We are delighted to align our growth journey with HCLTech’s purpose of bringing together the best of technology and people to supercharge progress for all stakeholders,” said Michael Neisen, CEO at the ASAP Group. “We are confident that the combination of HCLTech and ASAP’s engineering and technology performance will bring best-in-class advantages to the automotive industry worldwide.”
About the ASAP Group
The ASAP Group was founded on January 1, 2010, with a clear focus on the future technologies of the automobile. Today, the engineering partner of the automotive industry can look back on an almost unparalleled growth in automotive engineering: as of January 2023, more than 1,600 employees were working for the corporate group at nine locations. The ASAP group offers a comprehensive range of services concentrating on mega trends such as e-mobility, autonomous driving and connectivity. With its five service segments – Electrics/Electronics, Software, Consulting & Service, Testing and Vehicle Development – ASAP places its strategic development focus on the future-oriented technology fields.
HCLTech is a global technology company, home to more than 223,438 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending June 2023 totaled $12.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.
For further details, please contact:
Elka Ghudial, EMEA
Michelle Rico, Americas
James Galvin, ANZ
Devneeta Pahuja, India and APAC