Khaitan & Co advised advised Minda Industries Limited on the deal
Minda Industries has entered into a definitive agreement with KPIT Engineering to purchase its business related to telematics hardware products consisting of VTS AIS 140, OBITS (On Bus Integrated Telematics Systems complying to UBS-II specifications), and telematics products for school buses.
The agreement is subject to customary closing conditions and approvals. MIL will be a preferred supplier to KPIT for other telematics hardware products.
Minda Industries is the flagship company of the UNO Minda Group, which is a leading supplier of proprietary automotive solutions to OEMs as Tier 1. The Group is a global player in the automotive sector with overseas manufacturing facilities in Indonesia, Vietnam, Spain, Mexico, Morocco, Germany and Colombia as well as design offices in Taiwan, Japan and Spain. It has 58 manufacturing plants globally and has JVs/Technical Agreements with world renowned manufacturers from Japan, Italy, Taiwan and India.
KPIT, which specialises in embedded software, Al and digital solutions for the automotive and mobility industry, partners with customers to accelerate implementation of next generation technologies. It has technology centers in Europe, USA, Japan, China and India.
Khaitan & Co advised advised Minda Industries Limited with a team including Bharat Anand (Picture), Nimisha Trehan, Arpita Maheshwari (M&A) Akshay Sharma, Shailendra Bhandare and Sourav Dan (IP&IT).
Law Firms: Khaitan & Co.;
Clients: Minda Industries Ltd;