Board of KPIT Technologies approves acquisition of Future Mobility Solutions GmbH

The Board of KPIT Technologies at its meeting has approved the acquisition of initial 25% shareholding in Future Mobility Solutions GmbH ('FMS'). Over a period of three years, KPIT will acquire the balance shareholding. Majority shareholding is expected to be acquired in the last quarter of the Financial Year 2022-23. The total consideration for 100% shareholding will not exceed 15.6 million.

FMS is engaged in Software and Feature Development in Autonomous Driving, ADAS & Vehicle Safety and Integration & Validation.

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