KPIT buys Caresoft's engineering biz

KPIT Technologies is shifting gears again. The Pune-based automotive software specialist announced the acquisition of the Engineering Solutions business of Caresoft Global to strengthen its presence in the commercial vehicle and off-highway segments. The deal, announced on May 6, is valued at up to $191 million (around Rs 1,600 crore), with an initial payout and a $25 million variable component tied to performance targets. The transaction will be completed over the next three years, as per KPIT's official release. What's happening KPIT is acquiring the carved-out Engineering Solutions business of Caresoft Global, a company known for its work in benchmarking, cost optimisation, and digital diagnostics for trucks, buses, and off-highway vehicles. Caresoft will now be split into three distinct verticals: Benchmarking and cost engineering Engineering talent solutions Engineering solutions (the part KPIT is acquiring) This acquisition will help KPIT deepen its domain offerings, especially in the US, China, and India markets. According to KPIT, the acquired business will add over 500 engineers and strong client relationships in the tru