KPIT Technologies divests its Berlin based subsidiary - KPIT Medini Technologies AG

To ANSYS

KPIT Technologies announced that it has completed agreement with ANSYS, to sell its Berlin-based subsidiary, KPIT Medini Technologies AG, which has been focusing on functional safety products (Product brand known as Medini").

Medini is a functional safety product which has applications beyond KPIT's focused industries and as a software product, needs a wider and different distribution network to reach out to other industries beyond KPIT's focused areas.

While KPIT will continue to provide services around the Medini tools, it would like to deepen its domain expertise by continuing to make further strategic investments in its focus areas for which the proceeds from this sale will be used.

KPIT is expanding its portfolio as a provider of services and platforms to automotive industry for product engineering areas such as Powertrain, AUTOSAR, Diagnostics, Infotainment, etc.

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