KPIT Tech to acquire Caresoft’s engineering solutions biz for $191 mn

KPIT Technologies has acquired Caresoft Global’s Engineering Solutions business for $191 million. The acquisition will drive the company’s expansion into the truck and off-highway engineering solutions sector and accelerate KPIT’s entry into the Chinese market.

This also marks the KPIT’s entry into manufacturing engineering solutions for the mobility segment.The $191-million deal includes a $25-million variable consideration based on revenue milestones and other business synergy details. This total consideration can be paid in one or more tranches over four years, with cash considerations and/or equity shares at KPIT’s discretion, according to a statement.