TechTaffy

tech:

taffy

HCLTech to acquire German automotive company ASAP for about $280M

By TechTaffy Desk

HCLTech has signed a definitive agreement to acquire ASAP, a German provider of automotive engineering services, for an enterprise valuation of €251.1 million or roughly $279.83 million. Pending regulatory approvals, the transaction is set to close in September 2023.

ASAP, based in Ingolstadt, Germany, operates in the field of future-focused automotive technologies. The company works on areas such as autonomous driving, e-mobility and connectivity. ASAP’s clientele includes automotive original equipment manufacturers (OEM) and tier 1 suppliers in Germany.

ASAP operates across nine locations in Germany and has over 1,600 employees.

[Image courtesy: ASAP]

Just in

Around the web

Trump announces $20 billion foreign investment to build new U.S. data centers — CNBC

Emirati billionaire Hussain Sajwani, a Trump associate and founder...
Automotive

Honda, AWS to develop software-defined electric vehicles

Honda Motor Company is leveraging Amazon Web Services (AWS)...
Around the web

Meta ending fact-checking program: Zuckerberg — The Hill

Social media giant Meta announced a series of changes...
Around the web

How Elon Musk’s X became the global right’s supercharged front page — The Guardian

Every week, the platform seems to supercharge a news issue that comes to dominate conservative discourse – and often mainstream discourse, as well – with real political repercussions; writes J Oliver Conroy.
Around the web

Court strikes down US net neutrality rules — BBC

A US court has rejected the Biden administration's bid to restore "net neutrality" rules, finding that the federal government does not have the authority to regulate internet providers like utilities; writes Natalie Sherman.