8 Most Unique Places In North India To Visit In April
HCL Tech, an Indian IT services giant, announced late Wednesday that it will acquire German automotive engineering services provider ASAP Group for an enterprise value of around 251 million euros ($279.83 million) as it seeks to expand in the automotive market.
According to a stock exchange filing, HCL Tech intends to use the acquisition to expand into automotive markets in Europe, the Americas, and Japan.
ASAP Group, founded in 2010, services Germany’s major automotive original equipment manufacturers and tier-1 suppliers.
According to the statement, its portfolio comprises software development, consulting services, and vehicle development.
The announcement comes after HCL Tech announced a weaker-than-expected June quarter result as its technology and telecom clients reduced discretionary expenditure in the face of global macroeconomic uncertainty.
According to Refinitiv IBES statistics, the company’s net profit increased 7.65% to 35.34 billion rupees ($430.91 million) in the quarter that ended June 30, although it fell short of analysts average forecast of 38.17 billion rupees.
Also read: Russian General Fired After Accusing Top Brass Of Failing Soldiers
PM Modi announced that India will send relics of Lord Buddha, discovered in Gujarat’s Aravalli…
Prime Minister Narendra Modi highlighted the deep cultural ties between India and Thailand during his…
The Delhi High Court Bar Association has raised concerns over Justice Chandra Dhari Singh’s transfer…
Prime Minister Narendra Modi, during his visit to Bangkok, highlighted Thailand's strategic importance in India's…
Thailand unveiled a commemorative stamp featuring 18th-century Ramayan mural paintings, marking the first day of…
PM Modi and Thai PM Paetongtarn Shinawatra elevate India-Thailand ties to a strategic partnership in…