Tata Technologies, an engineering services company, said it will acquire Swedish engineering and design firm Escenda Engineering AB for an undisclosed amount to expand its presence in Europe’s automotive and industrial machinery sectors.
Following the acquisition, Escenda Engineering will become a wholly owned subsidiary of Tata Technologies Europe, the company said in a statement. The company will maintain the same management team and full workforce under the new ownership, it added.
“The acquisition helps Tata Technologies accelerate its plans to expand in Europe due to the rapid growth opportunity the region offers in both the automotive and industrial machinery sectors,” the company said in a statement.
The company added that Escenda’s product development knowledge and history of working with top global manufacturers will deepen Tata Technologies’ automotive sector expertise, expand the company’s facilities in Sweden, add strong local leadership, and further grow capabilities through key partnerships in Sweden.
