Tata Technologies has entered into a definitive agreement to acquire Escenda Engineering AB.
The acquisition helps Tata Technologies accelerate its plans to expand in Europe due to the rapid growth opportunity the region offers in both the automotive and industrial machinery sectors. Europe's automotive industry is the world's leading producer of motor vehicles by volume and is also the largest private investor in R&D in Europe.
Following the acquisition, Escenda Engineering will become a wholly owned subsidiary of Tata Technologies Europe Limited. The company will maintain the same management team and full workforce under the new ownership.
Founded in 2009, Escenda Engineering is based in Gothenburg, Sweden and has quickly established itself as a leader in automotive product engineering and design. Escenda's proven product development knowledge and history of working with top global manufacturers will deepen Tata Technologies' automotive sector expertise, expand the company's facilities in Sweden, add strong local leadership, and further grow capabilities through key partnerships in Sweden.
Through this acquisition, Tata Technologies will leverage its global expertise in engineering services to support key accounts in Sweden and the European market and help them create better products for their customers.
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