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Tata Technologies has acquired the US-based Cambric Corporation, an engineering services company, for $32.5 million.
The deal will strengthen the Tata group company’s ability to provide engineering services to existing and new clients, especially in Europe, a company press statement said.
Cambric had revenues of $25 million as of December 31, 2012. The majority of its revenues came from the construction and heavy equipment business.
“Cambric gives our customers in the construction and heavy equipment as well as in the auto sector, access to specialists in this field as well as access to Cambric’s powertrain expertise. Additionally, Cambric’s customers will have access to Tata Technologies footprint in the Asia-Pacific and complementary capabilities, including embedded systems, IT expertise and extensive automation domain experience,” Patrick McGoldrick, Managing Director and Chief Executive Officer, Tata Tech, said in a press statement.
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