Infotech Lead India: Tata Technologies, a provider of engineering services and manufacturing enterprise IT, is set to buy US-based Cambric Corp., an engineering services company.
The acquisition will strengthen Tata Technologies’ global footprint and domain capabilities to provide engineering services to existing and new clients, especially in Europe. It will also provide Cambric access to the Asia Pacific region.
Cambric, which has significant footprint in Eastern Europe, has three development centers in Romania and its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies.
Cambric had revenues of $25 million as of 31st December 2012 with majority of revenues coming from the Construction and Heavy Equipment sector.
Patrick McGoldrick, managing director and CEO, Tata Technologies, said; “Cambric gives our customers in the Construction and Heavy Equipment as well as in the Automotive sector access to specialists in this field as well as an access to Cambric’s powertrain expertise.”