Infosys is going to buy in-tech, a German engineering services company

Infosys is going to buy in-tech, a German engineering services company

A German company called in-tech offers digitalization services to the rail, automobile, and smart industrial sectors.

According to an exchange filing on April 18, India's second-largest IT services business Infosys plans to purchase in-tech, an engineering R&D services provider with an emphasis on the German automobile sector.

The business stated in a statement, "This strategic investment further strengthens Infosys’ engineering R&D capabilities as well as reaffirms its continued commitment to global clients as they continue their digital engineering journey."

The corporation did not release the deal's financial specifics.

According to the filing, in-tech, located in Germany, offers digitalization services to the rail transportation, automotive, and smart industrial sectors.  According to the announcement, it also creates technology for off-road vehicles, electric vehicles (EVs), linked and autonomous driving, e-mobility, and railroads.

According to the filing, the purchase is anticipated to conclude in the first half of FY25, pending normal closing requirements and regulatory clearances.

"Infosys continues to strengthen its Engineering R&D leadership and decades of experience in digital engineering," said Dinesh Rao, EVP and co-delivery head at Infosys. By working with Infosys Topaz, an AI-first suite of platforms, solutions, and services, and the newly acquired semiconductor expertise of InSemi, we have successfully developed deeper capabilities for the next software-defined vehicle era of automotive innovation. We are thrilled to have in-tech join the Infosys family, along with its leadership group.

The CEO of in-tech, Tobias Wagner, said, "This strategic partnership with Infosys represents an crucial turning point for us: It adds tremendous value to our offering for our clients as well as opens up unprecedented growth opportunities." We now cover the whole end-to-end procedure together, which is an essential step in meeting our clients' demands in full. We can execute even more ambitious projects with greater success because we have access to more people and knowledge, which gives us tremendous power and scale in our delivery capabilities.

Infosys outperformed Street predictions with a net profit of Rs 7,969 crore for the fourth quarter of its fiscal year. According to an exchange statement on April 18, the business declared sales of Rs 37,923 crore for the three months ended March 31.