KPIT divests its Berlin-based Subsidiary to ANSYS

6 November 2016 - Pune, India

KPIT (BSE: 532400; NSE: KPIT), product engineering and IT consulting partner to Automotive,
Manufacturing and Energy companies, announced today that it has completed agreement
with ANSYS, to sell its Berlin-based subsidiary, KPIT medini Technologies AG, which has been
focusing on functional safety products. (Product brand known as Medini).
Medini is a functional safety product which has applications beyond KPITs focused industries
and as a software product, needs a wider and different distribution network to reach out to
other industries beyond KPITs focused areas.
KPIT is expanding its portfolio as a provider of services and platforms to automotive
industry for product engineering areas such as Powertrain, AUTOSAR, Diagnostics,
Infotainment, etc.
While KPIT will continue to provide services around the Medini tools, it would like to
deepen its domain expertise by continuing to make further strategic investments in its
focus areas for which the proceeds from this sale will be used.
We are very happy about synergy in the tools strategy for medini and ANSYS. said Kishor
Patil, co-founder, MD & CEO of KPIT Technologies. KPIT will continue to focus on
functional safety services and be a long term strategic partner to medini & ANSYS
About KPIT Technologies Ltd.
KPIT (BSE:532400; NSE: KPIT) is a global technology company focused on providing
technology solutions and expertise to Automotive and Transportation Companies,
Government bodies, Manufacturing, Energy and Utilities companies. With revenues of over
USD 490 million, KPIT has been recognized as one of the fastest growing companies by
leading analysts and consulting companies. Together with its customers and partners, it
creates and delivers technologies to enable creating a cleaner, greener and more
intelligent world that is sustainable and efficient. For more information, please visit
www.kpit.com.