Business Daily from THE HINDU group of publications Thursday, Jul 10, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Mergers & Acquisitions KPIT buys design biz of Harita TVS Our Bureau Pune, July 9 KPIT Cummins Infosystems Ltd, IT consulting and specialist solutions partner, has announced that it has taken over substantial part of the Mechanical Design Services business of Harita TVS Technologies . Mr Ravi Pandit, KPIT Cummins Chairman and Group CEO, said on Wednesday that the high end mechanical design engineering capability from Harita would strengthen its existing portfolio of Automotive Embedded and Mechanical Engineering Services. It will now also offer integrated mechanical product design, development and validation services to existing and new global clients in the Automotive and Industrials verticals. He said the acquisition would bring in additionalrevenues of nearly Rs 15 crore and around 100 specialised employees from Harita TVS with core mechanical design competencies and more than 20 customers of Harita TVS across North America, Europe and India. He said 80 per cent of the acquired customers would be first-time customers for KPIT. Currently, KPIT has around 100 employees in this practice. The company refused to reveal details regarding the size of the acquisition. More Stories on : Mergers & Acquisitions | Software
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