According to KPIT Technologies Ltd.'s stock exchange notification on September 29, KPIT Technologies Ltd. confirmed the payment of the final installment of €8.19 million for acquiring the remaining 75% stake in Future Mobility Solutions GmbH (FMS). FMS specializes in software and feature development for autonomous driving, advanced driver assistance systems (ADAS), vehicle safety, and integration and validation. This acquisition is poised to bolster KPIT's proprietary offerings in the autonomous driving sector, along with enhancing its market footprint in Germany.
It is worth noting that KPIT initially acquired a 25% stake in FMS on Sept. 22, 2021. The agreement to buy the remaining 75% stake, with a total valuation of €15.19 million, was scheduled to be disbursed in one or multiple installments over six months, starting from April 1, 2023.
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