Infosys Announces Acquisition: in-tech Bought for 450M Euros Cash

22 Apr, 2024

Infosys Announces Acquisition in-tech Bought for 450M Euros Cash

IT giant Infosys has made headlines with its recent acquisition of in-tech, a leading engineering R&D services provider specializing in the German automotive sector. The acquisition, valued at 450 million euros, marks a significant move for Infosys to strengthen its presence in Europe. Expected to be finalized in the first half of the financial year 2025, pending customary closing conditions and regulatory approvals, this strategic move aligns with Infosys' expansion goals.

Headquartered in Germany, in-tech is renowned for its contributions to digitization in automotive, rail transport, and smart industries. With a focus on key areas like e-mobility, autonomous driving, and electric vehicles, in-tech offers a range of services including system design, consulting, and software/hardware validation.

Infosys sees this acquisition as a step towards advancing automotive innovation, particularly in software-defined vehicles, leveraging its existing capabilities such as Infosys Topaz and the recently acquired InSemi semiconductor expertise. Dinesh Rao, EVP and Co-Delivery Head at Infosys, expressed enthusiasm for welcoming in-tech into the Infosys family, while Tobias Wagner, CEO of in-tech, highlighted the expanded capabilities and scale that the merger brings.

In addition to this strategic move, Infosys also reported positive financial results for FY24, with notable increases in net profit and annual income from operations, underlining its growth trajectory and financial stability.