Please find enclosed announcement regarding Acquisition of strategic stake in Cymotive Technologies LTD ("Cymotive"), a leading automotive cybersecurity specialist headquartered in Israel.
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KPIT Technologies' board has approved acquiring a strategic stake in Cymotive Technologies, an Israeli automotive cybersecurity company founded jointly with Volkswagen Group's automotive software arm. The initial investment is USD 10 million in preference capital, expected to convert to 26% equity ownership by mid-2026, with plans to reach 100% ownership by mid-2029. Total consideration is estimated between $60-120 million. Cymotive specializes in securing software-defined vehicles across their entire lifecycle, with offerings including cybersecurity management systems, penetration testing, and intrusion detection. Its turnover has declined from $42.4 million in CY2023 to $19.2 million in CY2025. The deal requires merger control filings in Germany and Austria.
This acquisition strengthens KPIT's automotive cybersecurity capabilities as a natural extension of its software-defined vehicle business, with potential to add product and licensing revenue streams beyond engineering engagements.