Latest News | Siemens Completes Acquisition of Mass-Tech Controls Private's EV Biz for Rs 38 Cr

New Delhi, Jul 1 (PTI) Siemens Limited on Saturday said 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, transport as well as transmission and generation of electrical power.

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In a regulatory filing, the company said it "has completed the acquisition of EV division of Mass-Tech Controls in accordance with the definitive agreements entered between the parties for a consideration of Rs 380 million, which is subject to adjustments mutually agreed between the parties to the transaction".

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