• search

KPIT acquires 100 pc equity in CG Smith

Written by: Staff
|

Bangalore, Mar 6 (UNI) KPIT Cummins Infosystems Limited, global IT Consulting Organisation focussed on automotive and semiconductor sectors, today announced that it had acquired 100 per cent equity in the city-based CG Smith Software Private Limited in an all-cash deal of Rs 38 crore.

A KPIT release here said the company had entered into a definitive agreement for the acquisition. However, the deal was subject to legal and other clearances, likely to be completed by June.

The management of CG Smith, a 50-50 partnership between Crompton Greaves Limited and Smith and Co Inc, would continue to lead, the release said.

Giving the highlights of the deal, the company said the combined entity was poised to be a leader in third party solution provider space for automotives from India.

UNI GD RG HVB1832

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more