KPIT Technologies Limited (NSEI:KPITTECH) entered into an agreement to acquire a majority stake in Cymotive Technologies Ltd. on May 6, 2026. The initial investment by KPIT would be $10 Million in Preference Capital which would get converted to Equity Capital, basis achievement of certain performance milestones by Cymotive. Post such conversion, The total consideration for acquisition of 100% stake would happen in 2 tranches and is dependent upon the actual revenue and EBIT numbers achieved by Cymotive. Currently the total consideration payable by KPIT is expected to be between $60 Million to $120 Million including upfront $10 Million investment.
The transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to be completed by mid-2029.
KPIT Technologies Limited is an India-based independent software development and integration company. The Company provides embedded software for the automobile and mobility industry. Its solutions and services include Autonomous Driving and Advanced Driver Assistance System (ADAS); Conventional and Electric Powertrain; Cockpit; Body Electronics; Chassis; Common Middleware for new-age E/E Architectures; Cloud and Connectivity; Edge Analytics and Data Management; Virtual Engineering; Vehicle Engineering and Design; Integrated Diagnostics & Aftersales Transformation (iDART), and Vehicle Diagnostics and Aftersales Transformation. The Company provides comprehensive solutions for vehicle body and gateway from concept development to maintenance for current and next generation programs. Its iDART platform facilitates the development and validation of diagnostic functions and offers transformative and scalable solutions for after-sales service, maintenance and repair.
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