Siemens acquires Mass-Tech Controls Private’s EV division for Rs 38 cr
The company said it has “completed the acquisition of the EV division from Mass-Tech Controls as per the final agreements entered into between the two parties for a consideration of ₹380 million”.
Siemens Limited said on Saturday that it has completed the acquisition of the electric vehicle division of Mass-Tech Controls Private Ltd for Rs 38 crore.
Siemens is a technology company focused on industry, infrastructure and transportation as well as electric power transmission and generation.
In a regulatory filing, the company said that it has “completed the acquisition of the EV division from Mass-Tech Controls as per the final agreements entered into between the parties for a consideration of 380 million rupees, which is subject to the agreed adjustments between the parties to the transaction.”
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First published: Jul 01 2023 | 9:34 PM ist