Sources have stated that Indian automotive designing firm Tata Technologies has acquired Gothenburg based Escenda Engineering to significantly enhance the company’s scale and service offering in Sweden and across Europe, informed the company in an official statement and when following the acquisition, Escenda Engineering is to be established as a 100% subsidiary of Tata Technologies Europe.
It was stated that the company will maintain the same management team and full workforce under the new ownership. The acquisition is an essential component in Tata Technologies’ European growth strategy and follows the recent $26 million investment in the development of a new European Innovation and Development Centre in the UK.
Nick
Sale, Chief Operating Officer of Tata Technologies Europe, said “The
acquisition of Escenda will boost our capacity in the Nordics as well as our
capabilities in the automotive sector, where we already support a range of
global OEMS. The acquisition is a transformational development in an important
growing European market”. Escenda has more than 150 engineers and the company’s
revenue has grown by approximately 230% across the last four years. The company
has a long relationship with Volvo cars.
