Hinduja Tech to acquire Tecosim Group for 21 mn euros

Hinduja Tech Ltd, a subsidiary of Ashok Leyland, acquires Tecosim Group for 21 million euros at enterprise value. Tecosim, generating 40 million euros turnover and employing 650, enhances sustainable transport services. CEO Kumar Prabhas and MD Udo Jankowski foresee strategic benefits and propose a unified brand. The integration process is pending regulatory approvals as stated in a filing.