Latest news with #CaresoftGlobal
Time of India
21-05-2025
- Automotive
- Time of India
KPIT Technologies expands footprint in Sweden with new tech centre
KPIT Technologies , homegrown mobility tech firm , announced its expansion plan in Sweden with the inauguration of its new technology centre at Lindholmen Science Park, Gothenburg, which is at the heart of Sweden's automotive and mobility R&D ecosystem. The Gothenburg center, KPIT's first in the Nordics, will help it collaborate with Swedish and European OEMS and tap into local talent. Sachin Tikekar , President & Joint MD, KPIT Technologies, said, 'Our vision is to reimagine mobility for a cleaner, smarter and safer world. Sweden is a powerhouse of innovation, especially around safe and sustainable mobility, with Gothenburg at its epicenter. We are excited to work with local talent, harness Sweden's focus on technology and green transition, and co-develop solutions for challenges of mobility OEMS globally.' KPIT's entry into Sweden strengthens its European footprint and complements its operations in Germany, the UK, France, Italy, while also enhancing its global delivery network that spans the US, Japan, China and Thailand, India and Tunisia. Recently, the Pune-headquartered firm also expanded its operations in China, with the acquisition of Caresoft Global's engineering solutions business for $191 million. This will help KPIT to deepen its focus on the commercial vehicle segment and expand presence in China as Caresoft has a strong foothold there.
Web Release
20-05-2025
- Business
- Web Release
Ruler attends signing of MoU between Ras Al Khaimah and Miami to enhance cooperation across sectors
His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, today witnessed the signing of a Memorandum of Understanding (MoU) between Ras Al Khaimah and Miami, Florida, with a view to strengthening and promoting exchange and cooperation across a number of sectors of mutual interest. The agreement was signed by Senior Advisor to HH Sheikh Saud, His Excellency Mohammed Hassan Omran Alshamsi, and the Mayor of Miami, Francis Suarez. HH Sheikh Saud said: 'This agreement marks the beginning of a new era of collaboration for Ras Al Khaimah and Miami, though it is a continuation of the long-standing friendship and strategic partnership between the United Arab Emirates and the United States. By encouraging greater collaboration and exchange, we open new pathways for innovation, investment and cultural dialogue. We look forward to building a dynamic partnership that reflects our shared values and ambitious visions for the future.' Through the MoU, Ras Al Khaimah and Miami intend to establish a cooperative relationship across several sectors and areas of mutual interest, including city planning and public security, business promotion and tourism, Smart City technology, innovation and start-ups and sustainable development, in line with the UN Sustainable Development Goals. During the meeting, discussions also focused on enhancing economic, trade and investment ties, as well as the many existing US companies based in Ras Al Khaimah, such as Hilton, Guardian Glass and Caresoft Global. HH Sheikh Saud also highlighted the Emirate's vibrant economic landscape and the investment opportunities it offers to support business growth and innovation. Mayor Suarez expressed his sincere appreciation to HH Sheikh Saud for the warm hospitality, praising the strong ties between the UAE and the US and an agreement that will mark an exciting new chapter in relations between Ras Al Khaimah and one of the US's most prominent cities.
Sharjah 24
19-05-2025
- Business
- Sharjah 24
Saud bin Saqr attends signing of MoU between RAK and Miami
The agreement was signed by Senior Advisor to His Highness Sheikh Saud, Mohammed Hassan Omran Alshamsi, and the Mayor of Miami, Francis Suarez. His Highness Sheikh Saud said, 'This agreement marks the beginning of a new era of collaboration for Ras Al Khaimah and Miami, though it is a continuation of the long-standing friendship and strategic partnership between the United Arab Emirates and the United States. By encouraging greater collaboration and exchange, we open new pathways for innovation, investment and cultural dialogue. We look forward to building a dynamic partnership that reflects our shared values and ambitious visions for the future.' Through the MoU, Ras Al Khaimah and Miami intend to establish a cooperative relationship across several sectors and areas of mutual interest, including city planning and public security, business promotion and tourism, Smart City technology, innovation and start-ups and sustainable development, in line with the UN Sustainable Development Goals. During the meeting, discussions also focused on enhancing economic, trade and investment ties, as well as the many existing US companies based in Ras Al Khaimah, such as Hilton, Guardian Glass and Caresoft Global. His Highness Sheikh Saud also highlighted the Emirate's vibrant economic landscape and the investment opportunities it offers to support business growth and innovation. Mayor Suarez expressed his sincere appreciation to His Highness Sheikh Saud for the warm hospitality, praising the strong ties between the UAE and the US and an agreement that will mark an exciting new chapter in relations between Ras Al Khaimah and one of the US's most prominent cities. Areas of cooperation in the MoU The full list of areas of cooperation in the MoU are: City Planning and Public Security, Business Promotion and Tourism, Sustainable Development and Resilience (Sustainable Development Goals framework set forth by the United Nations), Smart City, Technology, Innovation, Start Ups and Digital Inclusion, Public Management, Participation and Accountability Mechanisms, Urban Mobility, Traffic and Mass Transportation Management, Primary Care, Health and Social Inclusion, Logistics and Airport Services, Culture, Sports and Education, Promotion of Creative Economy.
Time of India
06-05-2025
- Automotive
- Time of India
KPIT to buy Caresoft's engineering solutions unit for $191 million
KPIT Technologies has announced its acquisition of Caresoft Global's engineering solutions business for up to $191 million. This strategic move aims to bolster KPIT's commercial vehicle vertical by leveraging Caresoft's expertise in trucks and off-highway segments. The acquisition is also expected to facilitate KPIT's expansion into the Chinese market, with payment structured over four years. Tired of too many ads? Remove Ads New Delhi: KPIT Technologies on Tuesday announced the acquisition of Caresoft Global 's engineering solutions business for a total consideration of up to $191 million. The buyout would strengthen KPIT's commercial vehicle vertical by combining Caresoft's deep relationships and domain knowledge in trucks and off-highway segments , according to a is also expected to accelerate KPIT's foray into a BSE filing , KPIT informed that the consideration for the acquisition will be a maximum of $191 million, including $25 million variable consideration swap or any other form, and based on the achievement of revenue and other business synergy details of the same total consideration can be paid in one or more tranches over a period of 4 years with cash consideration and/or equity shares at the option of KPIT for an amount not more than $25 million, subject to shareholders' approval, according to a BSE filing.
Yahoo
06-05-2025
- Automotive
- Yahoo
Caresoft Global Announces Strategic Partnership with KPIT to Drive Leadership in Technology and Cost Optimization Strategies for the Automotive Industry
Caresoft Global's engineering solutions business is to join KPIT, as Caresoft doubles down on technology optimization and cost reduction engineering for the automotive industry. LONDON, May 6, 2025 /PRNewswire/ -- Caresoft Global, a global leader in automotive benchmarking, Cost reduction strategies, and engineering solutions, today announced a strategic realignment of its business and a new chapter in its growth journey. The company will restructure its business into three business units: 1. Benchmarking, Technology Optimization & Cost Reduction Engineering, 2. Engineering Talent Solutions and 3. Engineering Solutions. (Left) Mathew Vachaparampil, CEO, Caresoft Global; (Right) Kishor Patil Co-founder, CEO & Managing Director of KPIT Technologies As part of this strategic realignment, KPIT Technologies, a global leader specializing in software-defined vehicles (SDV), embedded systems, and system integration, will acquire Caresoft Global's carved-out Engineering Solutions business, which is especially focused on off-highway and truck and bus segments globally. Caresoft Global will continue strengthening its Automotive vertical while partnering with KPIT to expand its benchmarking and cost reduction business into new areas such as software benchmarking, creating unique market differentiators, and jointly exploring downstream implementation opportunities. With China continuing to lead in vehicle electrification, AI, modular architectures, and aggressive cost leadership, Caresoft Global, with its strong market presence and deep relationships in China, will partner with KPIT in that region. Together, they aim to bring Chinese innovation to the rest of the world. "This is a defining moment for Caresoft," said Mathew Vachaparampil, CEO of Caresoft Global. "The strength of this partnership is greater than the sum of its parts. While our engineering services are moving into great hands, Caresoft and KPIT will now focus on delivering greater value to customers seeking to save costs in a world of rapid technological evolution and geopolitical complexities. We will jointly deliver more value to our automotive customers in terms of technology, cost, and speed to market." In a statement, Kishor Patil, Co-founder, CEO & Managing Director of KPIT Technologies, said, "We are excited to welcome Caresoft Global's Engineering Solutions business to the KPIT family. At KPIT, we are deepening relationships with trucks and off-highway makers and accelerating our foray into China. Also, OEMs across segments are looking for a partner who can bring more agility and cost efficiency by taking an integrated view of software, hardware, and manufacturing. With Caresoft Global's strong expertise, we have a strategic partnership which will bring unparalleled value to the mobility ecosystem."
