Tata Technologies to acquire ES-Tec Group for €75m

Tata Technologies Limited, through its wholly-owned subsidiary Tata Technologies Pte. Limited, Singapore, has signed a definitive agreement to acquire 100% equity shares in ES-Tec Group from MW Beteiligungs GmbH. The total cash consideration for the acquisition is €75 million, including earn-outs, payable over the next two years. The transaction is expected to be completed by December 31, 2025, and is projected to be EPS accretive from the first full year of operations.

ES-Tec Group, established in 2006 and headquartered in Wolfsburg, Germany, specializes in high-end automotive engineering services, with expertise in ADAS, Connected Driving, and Digital Engineering. The company generated revenues of approximately €36 million in 2024 and employs over 300 skilled professionals. This acquisition is poised to bolster Tata Technologies' global capabilities and strengthen its presence in the European automotive market.

The acquisition will enhance Tata Technologies' ER&D capabilities, particularly in embedded systems, electronics, and systems engineering. It aims to unlock cross-selling synergies, expand into next-generation mobility programs, and deepen relationships with major OEMs. Required anti-trust filings under competition laws in Germany and Morocco, along with other regulatory approvals, will be sought.