APRIL 26: Tata Technologies has announced that it has signed definitive agreements for the acquisition of US-based Cambric Corporation, an engineering services company that provides turnkey solutions,

This partnership aims to strengthen Tata Technologies’ global footprint and domain capabilities to provide high-end engineering services to existing and new clients, especially in Europe. It will also provide Cambric access to the Asia-Pacific region. The $32.5 million deal will provide access to high-end, systems engineering, engine design and powertrain engineering capability

Cambric has a significant footprint in Eastern Europe. It has three development centres in Romania and its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies. Its expertise includes system level engineering and design capabilities in engine, powertrain, chassis/structures, body, electrical and hydraulic systems to its global customers. Privately held, the company had revenues of $25 million as of 31 December 2012 with majority of revenues coming from the construction and heavy equipment sector.

Patrick McGoldrick, managing director and CEO, Tata Technologies, said; “Cambric gives our customers in the construction and heavy equipment as well as in the automotive sector access to specialists in this field as well as an access to Cambric’s powertrain expertise.”