KPIT Technologies rises on planning to acquire Technica Engineering
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KPIT Technologies is currently trading at Rs. 580.85, up by 6.80 points or 1.18% from its previous closing of Rs. 574.05 on the BSE.
The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 585.65 and Rs. 578.90 respectively. So far 4367 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 800.00 on 10-Jan-2022 and a 52 week low of Rs. 300.10 on 29-Oct-2021.
Last one week high and low of the scrip stood at Rs. 615.00 and Rs. 557.05 respectively. The current market cap of the company is Rs. 15737.23 crore.
The promoters holding in the company stood at 40.10%, while Institutions and Non-Institutions held 26.73% and 33.17% respectively.
KPIT Technologies is all set to acquire Technica Engineering, a company specializing in production-ready system prototyping (combination of network system architecture, hardware prototyping, integration), automotive ethernet products, and tools for validation. This will create across-the-stack expertise offering a one-stop shop for the industry to transform towards SDV.
Technica Engineering is headquartered in Munich and has a presence in Spain, Tunisia, and the USA, with a team of 600+ engineers. The deal is expected to be closed by the end of October 2022, post fulfillment of customary closing conditions, and at the end of it, Technica Engineering will be fully owned by KPIT Technologies. The deal will be EPS accretive upon consolidation.
KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future.
