Tata Technologies announced late last month that it has signed definitive agreements for the acquisition of U.S.-based engineering services company Cambric.
In addition to its US operation, Cambric also has three development centres in Romania and its customers include some of the world’s largest heavy machinery, agricultural, off-highway and automotive companies.
The partnership will strengthen Tata Technologies’ global footprint and will also provide Cambric access to the Asia Pacific region.
Cambric provides system level engineering and design capabilities in engine, powertrain, chassis/structures, body, electrical and hydraulic systems to its global customers. Cambric is a privately held company with private equity investors holding majority stake in the company. Cambric had revenues of $25m as of 31 December 2012 with majority of revenues coming from the Construction and Heavy Equipment sector.
Commenting on the acquisition, Patrick McGoldrick, Managing Director and CEO, Tata Technologies, said he was pleased to welcome Cambric to the Tata Technologies family.
“Cambric gives our customers in the Construction and Heavy Equipment as well as in the Auto sector access to specialists in this field as well as an access to Cambric’s powertrain expertise,” he said.
“Additionally, Cambric’s customers will have access to Tata Technologies’ footprint in Asia Pacific and complementary capabilities including embedded systems, enterprise IT and extensive automotive domain experience.”