The company confirmed the report and said,
“The Company (on July 12) had intimated the acquisition of a 100% stake in ASAP Group, an automotive engineering services provider headquartered in Germany along with a disclosure under Regulation 30(4) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. We would like to inform you that the aforesaid acquisition has been completed effective August 31, 2023,”.
ASAP collaborates with the leading original equipment manufacturers (OEM) and tier-1 suppliers for the automobile industry in Germany. ASAP was established in 2010 and has its headquarters there. Electrics/electronics, software, consulting, service testing and validation, and vehicle development are all part of ASAP’s service offering.
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