Tata Technologies has announced that it has invested $32.5 million by signing a strategic agreement to acquire Cambric Corporation.
As reported by the Tata Technologies, this partnership deal will provide access to high-end, systems engineering, engine design and powertrain engineering capability.
Further, the Company stated that this deal will strengthen Tata Technologies' global footprint and domain capabilities to provide high-end engineering services to a diverse set of existing and new clients, especially in Europe. It will also provide Cambric access to the Asia-Pacific region."
Patrick McGoldrick , Managing Director & CEO, Tata Technologies, said, "Cambric gives our customers in the Construction and Heavy Equipment as well as in the Automotive sector access to specialists in this field as well as an access to Cambric's powertrain expertise."
Tim Hayes, CEO, Cambric, said, "We are excited to become a part of Tata Technologies’ ambitious growth strategy and look forward to providing our customers the added breadth, depth and global footprint that the combined entity will provide. We will now have similar engineering capability in the Asia-Pacific region to supplement our significant Romanian and US presence."
According to this partnership, Cambric's customers will get access to Tata Technologies' footprint in Asia-Pacific and complementary capabilities including embedded systems, enterprise IT and extensive automotive domain experience.
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