Tata Technologies Acquire Europe Based Escenda Engineering
Engineering services company Tata Technologies today said it 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," the company said in a statement issued here.
Following the acquisition, Escenda Engineering will become a wholly owned subsidiary of Tata Technologies Europe, However, the company will maintain the same management team and full workforce under the new ownership.
"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...