KPIT Technologies terminates agreement for acquisition of Vayavya Labs

KPIT Technologies has decided not to go ahead with the proposed agreements entered with Vayavya Labs (VL) and its shareholders for acquiring majority stake in VL.

In view of the changed environment due to the ongoing pandemic, both KPIT and VL have mutually decided not to go ahead with the proposed transaction.

This will have no impact on the KPIT revenue and profit outlook for this year.

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