AI assistant
Tata Technologies Limited — M&A Activity 2025
Sep 13, 2025
60382_rns_2025-09-13_88b66952-3614-47de-8df3-222971a3d997.pdf
M&A Activity
Open in viewerOpens in your device viewer
TATA
Ref. No.: TTL/COSEC/SE/2025-26/44
September 13, 2025
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai- 400001, India
Scrip Code: 544028
National Stock Exchange of India Limited
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex, Bandra (E),
Mumbai – 400 051, India
Trading symbol: TATATECH
Dear Sir / Madam,
Sub: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('SEBI Listing Regulations'), read together with Para A of Schedule III, read along with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, we wish to inform that the Company through its wholly owned subsidiary viz., Tata Technologies Pte. Limited, Singapore, has today i.e. September 13, 2025, signed a definitive agreement to acquire 100% equity shares in ES-Tec GmbH, and its subsidiaries (collectively, ES-Tec Group) from MW Beteiligungs GmbH.
The disclosure as required under Regulation 30 of SEBI Listing Regulations is attached herewith as Annexure A.
A Press Release on the aforesaid acquisition is enclosed herewith as Annexure B, content of which is self-explanatory.
This is for the information of the Exchange and the members.
Thanking you.
For Tata Technologies Limited
Vikrant Gandhe
Company Secretary
Encl: as above
TATA TECHNOLOGIES
Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India
Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035
CIN L72200PN1994PLC013313
Email: [email protected]
Website: www.tatatechnologies.com
TATA
Annexure A
| Sr. No. | Particulars | Details |
|---|---|---|
| a) | Name of the target entity, details in brief such as size, turnover etc. | Target Entity: ES-Tec GmbH, and its subsidiaries (collectively, ES-Tec Group) is into the business of high-end automotive engineering services with deep know-how in ADAS, Connected Driving, and Digital Engineering. The company generated revenues of Euro ~36 million in 2024 and has over 300 employees. |
| Acquirer: Tata Technologies Pte. Limited, Singapore | ||
| b) | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” | The acquisition is not with a related party. |
| Promoter/ Promoter Groups/ Group Companies do not have any interest. | ||
| None of the Tata Technologies’ directors have any interest. | ||
| c) | Industry to which the entity being acquired belongs | Engineering, Research & Development (ER&D) services. |
| d) | Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) | ES-Tec Group is a leading high-end automotive engineering service company in Germany with a specialized focus and deep know-how in ADAS, Connected Driving, and Digital Engineering. This acquisition significantly enhances TTL’s ER&D capabilities and broadens its end-to-end value proposition for global automotive customers. |
| ES-Tec Group’s presence in Germany will strengthen TTL’s growing presence in the region with a strong local talent pool and deep-expertise on systems engineering. | ||
| The transaction is expected to be EPS accretive from the first full year of operations itself. | ||
| e) | Brief details of any governmental or regulatory approvals required for the acquisition | Anti-trust filings required under the competition laws of Germany and Morocco, and such other regulatory approvals as may be required. |
| f) | Indicative time period for completion of the acquisition; | The transaction is expected to be completed by December 31, 2026. |
| g) | Consideration - whether cash consideration or share swap or any other form and details of the same | Cash |
TATA TECHNOLOGIES
Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India
Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035
CIN L72200PN1994PLC013313
Email: [email protected]
Website: www.tatatechnologies.com
TATA
| Sr. No. | Particulars | Details |
|---|---|---|
| h) | Cost of acquisition and/or the price at which the shares are acquired | Purchase consideration including earn-outs, totaling up to Euro 75 million |
| i) | Percentage of shareholding / control acquired and / or number of shares acquired | 100% |
| j) | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Established in 2006, and headquartered in Wolfsburg, Germany, ES-Tec Group provides high-end automotive engineering services with deep know-how in ADAS, Connected Driving, and Digital Engineering. It has more than 300 skilled professionals with deep expertise on systems engineering. |
| Revenue for the last 3 completed years (for the period ended 31 December); €24.7 Mn (CY22), €30.6 Mn (CY23), and €36.1 Mn (CY24) |
TATA TECHNOLOGIES
Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India
Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035
CIN L72200PN1994PLC013313
Email: [email protected]
Website: www.tatatechnologies.com
Annexure B
TATA TECHNOLOGIES
TATA
PRESS RELEASE
Tata Technologies Ltd. announces strategic acquisition of ES-Tec Group, Germany
Strengthens its global capabilities in next-gen mobility solutions
- Accelerates Engineering Research and Development (ER&D) Growth: Enhances Tata Technologies' (TTL) capabilities in high-growth domains—ADAS, Connected Driving, and Digital Engineering—aligned with OEM R&D priorities.
- Strengthens European Presence: ES-Tec's leadership in Germany strengthens TTL's presence in the world's most advanced automotive markets.
- Expands Talent & Expertise: Adds a strong talent pool of 300+ engineers with deep expertise on systems engineering.
- Unlocks Commercial Synergies: Complementary offerings and distinct customer base to enable cross-sell opportunities and broader access to OEM accounts.
- EPS Accretive: The transaction is expected to be EPS accretive from the first full year of operations.
Pune, India / Wolfsburg, Germany – September 13, 2025 – Tata Technologies (BSE: 544028, NSE: TATATECH), a leading global product engineering and digital services company, today announced that it has entered into a definitive agreement to acquire 100% equity shares of ES-Tech GmbH and its subsidiaries (collectively, ES-Tec Group) for a total cash consideration of €75 million. The consideration will be paid over the next two years and includes performance-based earn-outs. The transaction is expected to be EPS accretive from the first full year of operations.
Founded in 2006 and headquartered in Wolfsburg, Germany, ES-Tec Group is a premium automotive engineering services provider with deep domain expertise in Driver Assistance Systems (ADAS), Connected Driving, and Digital Engineering. With a talent pool of over 300 skilled professionals, ES-Tec has built a strong reputation for delivering complex systems engineering solutions to its customers.
This acquisition marks a significant step forward in TTL's global growth strategy, reinforcing its commitment to delivering future-ready engineering solutions to the automotive industry. ES-Tec's established presence in Germany—one of the world's most advanced automotive innovation hubs—provides Tata Technologies with a strategic platform to scale its ER&D operations, access top-tier engineering talent, and deepen relationships with marquee OEMs.
The automotive industry is undergoing a profound transformation, with European OEMs accelerating R&D investments in ADAS/AD, electrification, and software-defined vehicle platforms. As a result, the market for Engineering Service Providers (ESPs) in Europe is projected to grow from €4.5 billion in 2020 to €11.7 billion by 2030. This trend presents significant opportunities for ES-Tec to expand its capabilities, strengthen its customer partnerships, and capture a larger share of high-value development programs.
Copyright 2025 Tata Technologies. All rights reserved. All other
trademarks are trademarks of their respective owners.
Engineering a better world
TATA TECHNOLOGIES
TATA
"The acquisition of ES-Tec Group is a strategic leap that enhances our ability to deliver end-to-end product engineering solutions across the automotive value chain and represents our commitment to expand our global footprint in accessing innovative engineering capabilities," said Warren Harris, MD & CEO of Tata Technologies. "ES-Tec's technical depth, customer centricity, and regional strength align perfectly with our strategic vision to be the first partner choice for global OEMs navigating the shift towards intelligent, connected, and sustainable mobility."
We are delighted to welcome the Es-Tec team to the TTL family. The integration of ES-Tec Group will significantly enhance Tata Technologies' ER&D capabilities, particularly in embedded systems, electronics, and systems engineering. We will be well-positioned to unlock cross-selling synergies, expand and jointly pursue next-generation mobility programs.
Marc Wille, MD & CEO of ES-Tec said – “Joining forces with Tata Technologies is a key step for the ES-Tec Group to extend the breadth and depth of capabilities and expand our international presence. Together, we are ready to take on the future challenges of the automotive industry – delivering real value for our customers through competitive pricing, outstanding quality, and faster development cycles. Our goal is clear: to drive the global automotive industry forward, and together with Tata Technologies, become a partner of choice for the mobility sector.”
The transaction is subject to customary closing conditions and regulatory approvals. Tata Technologies remains committed to investing in innovation, talent, and customer success as it continues to scale its global footprint and deliver differentiated value to its partners.
MCF Corporate Finance based in Europe was the advisor to Tata Technologies on this transaction.
About Tata Technologies:
Tata Technologies (BSE: 544028, NSE: TATATECH) is a global product engineering and digital services company focused on fulfilling our mission of helping the world drive, fly, build, and farm by enabling our customers to realize better products and deliver better experiences. We are the strategic engineering partner businesses turn to when they aspire to be better. Manufacturing companies rely on us to enable them to conceptualize, develop, and realize better products that are safer and cleaner and improve the quality of life for all the stakeholders, helping us achieve our vision of #EngineeringABetterWorld. For more, visit us at https://www.tatatechnologies.com or learn more here. Follow us on LinkedIn, Instagram, Twitter, Facebook, and YouTube for the latest updates.
About ES-Tec
As a premium engineering service provider, ES-Tec shapes the mobility of tomorrow together with renowned OEMs. ES-Tec is deeply embedded in vehicle development, testing and implementing complex systems and functions with a strong focus on ADAS, Connected Driving, and Digital Engineering. With its nearshoring footprint in Morocco, the Group provides exclusive access to one of the world's most advanced proving grounds – delivering a unique edge in testing, validation, and time-to-market acceleration. GE-T, as being a vital part of the Group, focuses on automation, robotics, and artificial intelligence, serving as the Group's in-house driver of innovation and cutting-edge technology. Together, the Group combines technological excellence with maximum flexibility and rapid, unbureaucratic execution – creating real value for customers and strengthening competitiveness in a transforming industry.
Copyright 2025 Tata Technologies. All rights reserved. All other
trademarks are trademarks of their respective owners.
Engineering a better world
TATA TECHNOLOGIES
TATA
Investor relations contact:
Vijay Lohia – [email protected]
Media contacts:
Nikita Crasta – +91 22 67574600, [email protected]
Forward-Looking Statements
This release may include opinions and assumptions about future performance which could be considered forward-looking statements. Forward-looking statements intrinsically cover several risks and uncertainties, which may lead to a material difference between actual results and the statements themselves. Such statements comprise the company's current visibility on market movements, client discussions, and related factors. Tata Technologies Limited does not assume an obligation to update or revise any forward-looking statements.
Copyright 2025 Tata Technologies. All rights reserved. All other trademarks are trademarks of their respective owners.
Engineering a better world | 3