Bangalore,
Karnataka
KPIT Technologies has announced the signing
of an agreement to acquire a stake in Pathpartner Technology. The deal is expected to close in Q2 FY
2021-22. KPIT will purchase a 60 % stake initially for approximately Rs 890
million and will acquire the balance stake over a period of 2 years. The total
value of the 100% stake would be within Rs 1,910 million.
Kishor Patil, CEO, KPIT Technologies, said that, PathPartner’s
competence in the operating system software and low-level software and existing
semiconductor partnerships for early access to platforms is key to delivering
complex production programs. Together, the companies can offer differentiated
offerings for new-age vehicle architectures and strengthen their software
integration expertise.
According to Tushar K Adhikary, CEO, PathPartner Technology, they
are happy to join the KPIT family. KPIT’s vision to reimagine mobility, global
presence, scale, software integration strategy would give their team
opportunities to grow and add value. He also said that KPIT’s strong
relationships with auto OEMs and Tier 1s, work on multiple production programs
will open doors to taking complementary and differentiated offerings.
KPIT Technologies is a leading independent
software development and integration partner for automobile and mobility
industries.
PathPartner is a specialist design service and solution provider of operating system and low-level software for automotive, camera, radar and multimedia devices.
Source: KPIT Press Release
Image Sources: Google Images
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