Key takeaways
- HCL has acquired a 100% stake in German tech firm ASAP Group, enhancing its automotive portfolio.
- The acquisition is expected to strengthen HCL's presence in key global automotive markets.
- HCL aims to scale ASAP's automotive engineering capabilities across its global network.
- The company's interest in autonomous driving technology dates back to 2018.
- Other IT firms are also exploring innovations in the autonomous driving space.
Indian IT giant HCL has recently acquired a 100% stake in German autonomous vehicle tech company ASAP Group, according to media reports.
This deal is poised to enhance the IT giant's portfolio and strengthen its presence in the automotive industry. Furthermore, it will facilitate the company's expansion into significant automotive markets across Europe, the Americas, and Japan.
The deal is expected to be around USD 279.72 million and is expected to be completed through HCL's UK-based subsidiary.
“Core engineering is at the heart of HCLTech's DNA and truly differentiates our services portfolio. ASAP has developed some exciting capabilities in automotive engineering, and we share their vision for the future of mobility.
“This agreement will enable us to scale these capabilities and innovations across our global network,” Hari Sadarahalli, Corporate Vice President, Engineering and R&D Services, HCL Tech said.
It's noteworthy that HCL’s interest in the autonomous driving space is not new. In 2018, HCL revealed that the company was working on autonomous driving technology.
In fact, other IT giants too have been indulging in this space for quite some time. In 2020, Infosys showcased their innovation by retrofitting an existing buggy on their campus with a patented Drive-by-Wire technology, transforming it into an autonomous buggy.
