KPIT Technologies’ Wholly owned subsidiary — KPIT Technologies (UK) has received an approval for the acquisition of initial 65% shareholding in SOMIT Solutions (SOMIT). Over a period of six months, KPIT Technologies (UK) will acquire the balance shareholding.
The objects of acquisition is complements KPIT’s aftersales diagnostics platform and strengthens its positioning to cater to the multi-billion automotive aftersales industry and address higher value share in KPIT’s strategic clients. Adds specialist talent to the KPIT family. The Total consideration for 100% shareholding will not exceed 7.68 million pound over a 3 year period. The Board of Directors of the company, at its meeting has approved the same.
KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.