Acquisition demonstrates Infosys' commitment
to the automotive ecosystem and strengthens its footprint across
Europe
BENGALURU, India and
MUNICH, April 18, 2024 /PRNewswire/ -- Infosys (NSE:
INFY) (BSE: INFY) (NYSE: INFY) a global leader in next-generation
digital services and consulting, today announced a definitive
agreement to acquire in-tech, a leading Engineering R&D
services provider focused on German automotive industry. This
strategic investment further strengthens Infosys' Engineering
R&D capabilities and reaffirms its continued commitment to
global clients to navigate their digital engineering journey.
Headquartered in Germany,
in-tech, is one of the fastest growing Engineering R&D services
providers that shapes digitization in the automotive, rail
transport and smart industry sectors. in-tech develops solutions in
e-mobility, connected and autonomous driving, electric vehicles
(EV's), off-road vehicles and railroad. in-tech offerings include
system design, methodical consulting, advanced electronics platform
development and validation of automotive specific software and
hardware systems, infotainment, and experience validation.
in-tech brings to Infosys, marquee German original equipment
manufacturers (OEMs) deep client relationships, and an extensive
industry expertise with a multidisciplinary team of 2200 people
across locations in Germany,
Austria, China, UK, and nearshore locations in
Czech Republic, Romania, Spain, and India.
Dinesh Rao, EVP &
Co-Delivery Head, Infosys, 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's 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."
Jasmeet Singh, EVP and Global
Head of Manufacturing, Infosys, said, "The automotive
industry today is going through a pivotal change, with connected,
autonomous, and electric vehicles, and most importantly
software-defined vehicles. Electronics and software will drive
value for next generation vehicles. Infosys' leadership with
comprehensive offerings serving global auto OEMs, tier-one, and
e-mobility start-ups, coupled with in-tech' engineering prowess
presents a differentiated value to our clients bringing high
quality innovative products to market faster."
Tobias Wagner, in-tech
CEO, said, "Over the past 22 years, we have created an
impressive company history, characterized 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."
in-tech Founder and Board Member, Christian Wagner, added, "When choosing
Infosys, it was important to us that not only the business goals
but also the corporate cultures harmonize. I am thrilled that
Infosys and in-tech are not only on the same wavelength in terms of
innovation and technology, but that we also share the same values -
be it our passion for sustainability or our desire to create a work
environment where everyone feels valued. This cultural fit
amplifies my belief that we will achieve extraordinary success
together."
The acquisition is expected to close during the first half of
fiscal 2025, subject to customary closing conditions and regulatory
approvals.
About in-tech
in-tech shapes digitalization in the automotive industry, rail
transport and industry. The company develops solutions for the
automotive, eMobility, transport systems and smart industry
sectors. The developers and engineers at in-tech work, for example,
on topics such as autonomous driving, electromobility, digital
rail or smart industrial production.
The company was founded in 2002 and has been consistently
growing ever since. in-tech currently employs around 2200 people at
locations in Germany, Austria, China, the UK, the Czech Republic, Spain, Romania and India. The company shines as an excellent
employer with an outstanding corporate culture: the company has
already received several awards for its good working atmosphere,
internal team spirit and excellent work-life balance. For more
information please visit www.in-tech.com
About Infosys
Infosys is a global leader in next-generation digital services
and consulting. Over 300,000 of our people work to amplify human
potential and create the next opportunity for people, businesses
and communities. We enable clients in more than 56 countries to
navigate their digital transformation. With over four decades of
experience in managing the systems and workings of global
enterprises, we expertly steer clients, as they navigate their
digital transformation powered by cloud and AI. We enable them with
an AI-first core, empower the business with agile digital at scale
and drive continuous improvement with always-on learning through
the transfer of digital skills, expertise, and ideas from our
innovation ecosystem. We are deeply committed to being a
well-governed, environmentally sustainable organization where
diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE,
NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, or our future financial or operating performance, are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results or outcomes to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding the execution of our business strategy, our
ability to attract and retain personnel, our transition to hybrid
work model, economic uncertainties, technological innovations such
as Generative AI, the complex and evolving regulatory landscape
including immigration regulation changes, our ESG vision, our
capital allocation policy and expectations concerning our market
position, future operations, margins, profitability, liquidity,
capital resources, our corporate actions including acquisitions,
and cybersecurity matters. Important factors that may cause actual
results or outcomes to differ from those implied by the
forward-looking statements are discussed in more detail in our US
Securities and Exchange Commission filings including our Annual
Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available
at www.sec.gov. Infosys may, from time to time, make
additional written and oral forward-looking statements, including
statements contained in the Company's filings with the Securities
and Exchange Commission and our reports to shareholders. The
Company does not undertake to update any forward-looking statements
that may be made from time to time by or on behalf of the Company
unless it is required by law.
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