KPIT Technologies Limited has informed the Exchange about Acquisition of strategic stake in Cymotive Technologies LTD ("Cymotive"), a leading automotive cybersecurity specialist headquartered in Israel.
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KPIT Technologies has approved acquiring a strategic stake in Cymotive Technologies, an Israeli automotive cybersecurity company. The initial investment is USD 10 million in preference capital, which converts to 26% equity upon meeting performance milestones. KPIT plans to acquire 100% stake in phases by mid-2029, with total consideration expected between USD 60-120 million. Cymotive was founded jointly by Israeli cybersecurity leaders and CAR/AD (Volkswagen Group's automotive software arm) and specializes in securing software-defined vehicles throughout their lifecycle. The target company reported declining turnover: USD 42.4 million in CY2023, USD 32.7 million in CY2024, and USD 19.2 million in CY2025. Merger control filings are required in Germany and Austria.
The acquisition strengthens KPIT's automotive cybersecurity capabilities as a natural extension of its SDV and embedded systems engineering business, potentially opening new product and licensing revenue streams beyond traditional engineering services.