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Incat to buy a Chinese firm

Incat, the Detroit, US-based firm acquired by Pune-based Tata Technologies in October last year, is seeking to buy a Chinese firm.

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MUMBAI: Incat, the Detroit, US-based firm acquired by Pune-based Tata Technologies for Rs 411 crore in October last year, is seeking to buy a Chinese firm.

The company, which affords “product lifecycle management” services to automotive, aerospace and durable goods firms, is currently in talks with a clutch of engineering and design firms in China for an acquisition by the end of the current fiscal.

Patrick McGoldrick, managing director, Tata Technologies, said, “We are looking for acquisitions especially in China since big money is now flowing towards Asia Pacific.” Incat is also seeking joint ventures in Germany and France.

An industry source said the company would be providing engineering and design services for Tata group chairman Ratan Tata’s Rs 1 lakh car project.

McGoldrick refused to comment on this, stating “all will be revealed officially at the appropriate time.”

Warren Harris, COO, Incat, said, “We see an exciting future for Incat in India what with the rapid growth of automotive and aerospace industries. Our global customers are
continuing to establish their own engineering centres in India, and they are asking us to provide access to services from India for their global operations.”

The objective is for Incat to become the world leader in the growing market for E&D and product-centric IT services, a market reported by Nasscom to be worth $650 billion, he added.

Incat’s India delivery centre is located at the Centre for Advanced Engineering & Design in Pune. The company has more than 3,000 employees in 45 cities in 12 countries, serving over 2,000  organisations.

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