Tata Tech to buy US-based Cambric

Tata Technologies has signed definitive agreements — in a $32.5 million deal — for acquisition of US-based Cambric Corporation to strengthen its global footprint and domain capabilities. Cambric is a premier engineering services company providing turnkey solutions to its customers and has revenues of $25 million as of 31 December 2013.

Besides getting access to high-end systems engineering, engine design and powertrain engineering capability, this deal is expected to consolidate Tata Technologies’ presence in the global construction and heavy equipment sector.