Infosys Ltd to Expand European Presence with Acquisition of In-tech

On April 18, 2024, Infosys Ltd informed in an exchange filing that the company had signed a definitive agreement to acquire in-tech and strengthen its footprint across Europe.

Details of the Acquisition

On Thursday, prominent information technology company Infosys Ltd announced a definitive agreement to acquire in-tech, which is a leading engineering R&D services provider focused on the German automotive industry. This strategic investment is expected to bolster Infosys’ Engineering R&D capabilities further and reaffirm its ongoing commitment to clients worldwide to navigate their digital engineering journey.

German-based in-tech is one of the fastest-growing engineering R&D services providers, shaping digitisation in rail transport, smart industry, and automotive sectors. in-tech specialises in creating solutions for e-mobility, connected and autonomous driving, electric vehicles (EVs), off-road vehicles, and railroads. Their offerings contain system design, consulting, electronics platform development, and validation of automotive software and hardware systems, as well as infotainment and experience validation.

As per the exchange filing, in-tech brings marquee German original equipment manufacturers (OEMs), deep client relationships and vast industry experience to Infosys with a multidisciplinary team of about 2,200 people across Austria, Germany, the UK, China, Spain, Romania, Czech Republic and India.

Commenting on the acquisition, EVP and Co-Delivery Head of Infosys, Dinesh Rao, said, “Infosys continues to strengthen its Engineering R&D leadership with decades of experience in digital engineering. Together with in-tech, Infosys Topaz, an AI-first set of services, solutions and platforms, and recently acquired InSemi’ semiconductor expertise, we have successfully created deeper capabilities for the next phase of automotive innovation in the arena of software-defined vehicles. We are excited to welcome in-tech and its leadership team into the Infosys family.”

in-tech CEO, Tobias Wagner, said, “Over the past 22 years, we have created an impressive company history, characterised by organic growth, strategic acquisitions and high profitability. This strategic partnership with Infosys represents a decisive turning point for us: It opens up unprecedented growth opportunities and also adds tremendous value to our offering for our clients. Together, we now cover the entire end-to-end process, a step that is crucial to fully meet our customers’ needs. With access to more talent and expertise, we gain incredible strength and scale in our delivery capability, enabling us to successfully implement even more ambitious projects.”

The company also added that the acquisition is anticipated to close during the first half of FY 2025, subject to customary closing conditions and regulatory approvals.

On April 19, 2024, the share price of Infosys Ltd opened at ₹1,385.00, touching the day’s high at ₹1,407.90, as of 11:06 AM on the NSE.

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