By K Ashwin Mobile: 09920183006 Email:email@example.com
KPIT (BSE: 532400; NSE: KPIT), a well-established technology company with deep expertise in Auto Engineering and Mobility Solutions, and strong presence in Business IT with significant ERP expertise and niche digital competency and, Birlasoft, a part of the USD 1.6 billion diversified CK Birla Group, today announced the coming together of KPIT and Birlasoft, to create a USD 700+ million combined entity that will later demerge into two separate companies, focused on ‘Automotive Engineering and Mobility Solutions’ (the new KPIT Technologies) and ‘Digital Business IT Services’ (Birlasoft) respectively. During the period prior to completion of the deal, KPIT and Birlasoft will continue to be run by their current management, in addition to which management from KPIT and Birlasoft will work together to familiarize Birlasoft with the ITSS business.
At the conclusion of the deal, two new companies will be created. The new KPIT Technologies will be a USD 200+ million focused Engineering Services company that will be created by tapping into the current Engineering business of KPIT to create a global leader in Automotive Engineering and Mobility Solutions.
The new ‘Birlasoft’ will be a USD 500+ million Digital Business IT Services company that will be created by combining the KPIT ITSS business and the current Birlasoft creating a new leader in the mid-tier IT services space, which will also be called Birlasoft. Read more