| Log in

Tata Technologies acquires US-based Cambric for $32.5M

07 May, 2013

Tata Motors’ engineering services arm Tata Technologies Ltd has acquired Cambric Corporation, a US-based engineering services company from an unnamed private equity investor, for $32.5 million (Rs 176 crore) to strengthen its footprint globally, especially In Europe, according to a company statement.

Cambric has significant footprint in eastern Europe, with three development centres in Romania with team of 450 engineers. It had revenues of $25 million as of 31 December 2012, majority of which came from construction and heavy equipment sector.

“Cambric gives our customers in the construction and heavy equipment as well as in the auto sector, access to specialists in this field as well as access to Cambric’s powertrain expertise. Additionally, Cambric’s customers will have access to Tata Technologies footprint in the Asia-Pacific and complementary capabilities, including embedded systems, IT expertise and extensive automation domain experience,” said Patrick McGoldrick, MD and CEO, Tata Technologies.

Cambric was advised by Rothschild and Holland and Hert. The transaction is subject to customary closing conditions.


Leave Your Comment
News Roundup: Rane Group puts Chennai property on the block

News Roundup: Rane Group puts Chennai property on the block

TEAM VCC 3 years ago
The Rane Group has put on the block a 3.5-acre plot in the prime suburb of...
Tata Steel to acquire Nordic strip products service centres of Swedish firm SSAB

Tata Steel to acquire Nordic strip products service centres of Swedish firm SSAB

Bhawna Gupta 3 years ago
Tata Steel Europe, a subsidiary of India’s largest steel company by revenues...
News Roundup: Irish cement major likely to bag Shriram Group cement business

News Roundup: Irish cement major likely to bag Shriram Group cement business

TEAM VCC 4 years ago
Ireland-headquartered cement maker CRH Plc may acquire Sree JayaJothi Cements,...
No Comments

Tata Technologies acquires US-based Cambric for $32.5M

Powered by WordPress.com VIP