HCLTech to acquire automotive engineering services provider ASAP Group
HCLTech (HCL Technologies), a prominent global technology corporation, declared today its decision to acquire the ASAP Group, a provider of automotive engineering services.
The purchase entails a 100% equity stake in the ASAP Group, with the deal’s closure subject to relevant regulatory approvals and projected for September 2023.
ASAP, which is based in Ingolstadt, Germany, offers future-focused automotive technologies such as autonomous driving, e-mobility, and connectivity. The company serves numerous top-tier automotive original equipment manufacturers (OEM) and suppliers in Germany. ASAP employs over 1,600 individuals at nine locations across Germany, with services ranging from electrics/electronics and software to consulting, service testing, validation, and vehicle development.
HCLTech to boost global engineering services with ASAP Group acquisition. Photo courtesy of Raghukraman/Wikimedia Commons.
HCLTech’s acquisition of ASAP is expected to bolster the firm’s existing leadership in global engineering and R&D services. HCLTech is recognized for its work with 63 of the top 100 global engineering R&D spenders. This move is seen to enhance HCLTech’s advanced technology capabilities in the automotive engineering services sector, particularly in Europe and other key international markets.
Hari Sadarahalli, Corporate Vice President of Engineering and R&D Services at HCLTech, noted the firm’s DNA rooted in core engineering, which significantly differentiates its services portfolio. Sadarahalli expressed excitement over ASAP’s impressive capabilities in automotive engineering, aligning with HCLTech’s vision for mobility’s future. He stated, “This agreement will enable us to scale these capabilities and innovations across our global network. This investment also reinforces our commitment to Germany, which is a focus market for us. We will continue to nurture local talent and innovation ecosystem to unlock their potential.”
Michael Neisen, CEO at the ASAP Group, expressed delight over aligning ASAP’s growth trajectory with HCLTech’s mission of merging technology and people to propel progress for all stakeholders. Neisen added, “We are confident that the combination of HCLTech and ASAP’s engineering and technology performance will bring best-in-class advantages to the automotive industry worldwide.”
The ASAP Group was established on January 1, 2010, with a strong focus on automotive future technologies. As of January 2023, the engineering partner of the automotive industry employed more than 1,600 individuals at nine locations. ASAP’s broad range of services concentrates on mega trends like e-mobility, autonomous driving, and connectivity, with five service segments positioning the group’s strategic development focus on future-oriented technology fields.