Automobility Services and Solutions Private Limited completed the acquisition of Digital Mobility Business from Bosch Limited for INR 7.8 billion.
July 30, 2023
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Automobility Services and Solutions Private Limited agreed to acquire Digital Mobility Business from Bosch Limited (BSE:500530) for INR 6.9 billion on May 26, 2023. Automobility Services and Solutions Private Limited entered into an agreement to acquire Digital Mobility Business from Bosch Limited (BSE:500530) on June 9, 2023. Bosch Limited board approved the deal. For period ended March 31, 2023, revenue of INR 499.3 million and net worth of INR -2.8 billion. Business Transfer Agreement is proposed to be entered on June 9, 2023. The transaction is expected to complete on June 30, 2023. RBSA Advisory Pvt. Ltd. acted as financial advisor and fairness opinion provider to Bosch Limited (BSE:500530).
Automobility Services and Solutions Private Limited completed the acquisition of Digital Mobility Business from Bosch Limited (BSE:500530) for INR 7.8 billion on July 1, 2023.
Bosch is an industrial group that is organized around two product families:
- automotive components and accessories (85.3% of net sales): injection systems, chassis control systems, propulsion systems, generators, mechatronic components and systems, multimedia systems, etc.;
- other (14.7%): mass market products (electric tools and appliances), Industrial equipment (control and industrial automation systems, packaging systems, etc.), and building solutions (heating systems, detection, access control, video surveillance and intrusion detection systems, etc.). In addition, the group offers solar energy solutions.
At the end of March 2018, Bosch has 8 production sites located in India.