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Tata Group’s digital and engineering services arm Tata Technologies (TTL) has acquired Germany-based ES-Tec Group for €75 million as the company looks to deepen its presence in Europe and strengthen its play in next-gen automotive engineering.
The all-cash deal, which will be completed over two years will be based on Es-Tec meeting certain performance objectives over two years. The acquisition is expected to be EPS accretive from the first full year of operations, TTL said in a statement late Saturday.
This article is published by The Economic Times
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