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Cambric acquisition will open East Europe for Tata Technologies

Salt Lake City ( Utah, US) and Mumbai India, April 29 2013: — Singapore-headquartered, global Indian   engineering services and manufacturing enterprise  IT provider,Tata Technologies, is to acquire the US-based Cambric Corporation, a premier engineering services company in a $ 32.5 million deal. While the acquisition provides Tata Technologies access to high-end, systems engineering, engine design and powertrain engineering capability and strengthens its presence in the global Construction and Heavy Equipment sector, it will also add 450 plus highly-experienced engineers in Romania and US and provide near-shore delivery presence in Eastern Europe. For Cambric, it will be a door to the Asia Pac region.
Cambric has three development centres in Romania and its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies. 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 $25 million as of 31st December 2012 with majority of revenues coming from the Construction and Heavy Equipment sector.
Says Patrick McGoldrick, Managing Director and CEO, Tata Technologies:“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. 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.”
Adds Tim Hayes, CEO, Cambric: “We are excited to become a part of Tata Technologies ambitious growth strategy and look forward to providing our customers the added breadth, depth and global footprint that the combined entity provides. We see this combination of our two companies as a means to match our clients’ global operations with our own engineering footprint. We will now have similar engineering capability in the Asia Pacific region to supplement our significant Romanian and US presence.”

Tata Technologies serves clients in 25 countries, with a delivery model specifically designed for engineering and IT engagements that offers a unique blend of deep, local expertise integrated with our six global delivery centers, Detroit (USA), Coventry (UK), Pune and Bangalore (India), Stuttgart (Germany), and Bangkok (Thailand). The international headquarters is located in Singapore.
Cambric has three development centers in Romania and its customers include some of the world’s marquee heavy machinery, agricultural, off-highway and automotive companies. 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 $25 million as of 31st December 2012 with majority of revenues coming from the Construction and Heavy Equipment sector.

www.tatatechnologies.com  www.cambric.com  




    


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Cambric acquisition will open East Europe for Tata Technologies
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