Automotive software major KPIT Technologies on Wednesday announced the merger of Future Mobility Solutions GmbH, a subsidiary company with KPIT Technologies GmbH.
Future Mobility Solutions GmbH, is a German wholly owned step-down subsidiary of KPIT India, with average employee strength of 99. It is engaged in software and features development in autonomous driving, ADAS AND vehicle safety, and integration and validation. It is headquartered in Gaimersheim, Germany and has an office in Frankfurt, Germany.
KPIT GmbH on the other hand is wholly owned step-down subsidiary of KPIT India, with an average employee strength of 426, engaged in embedded software solutions for the mobility industry. It is headquartered in Munich, Germany.
In a regulatory filing, the company stated that this integration has enabled joint go-tomarket, enhanced delivery capabilities and enabled the employees of FMS to fully understand and participate in the larger KPIT ecosystem and reap the benefits of the established processes and systems of KPIT. Thus, this merger will further aid seamless collaboration in the teams and open up new, larger opportunities with enhanced roles and responsibilities to the employees, while at the same time boosting the leverage of the systems, processes, & tools for a seamless operating experience, the statement noted.
As on March 31, 2024 ending, Future Mobility Solutions GmbH's turnover stood at Euro 8.7 million. Likewise, KPIT GmbH's turnover during the same period stood at Euro 99.17 million.