Tata Technologies a global product engineering and digital services company on Saturday announced that it will acquire a 100 per cent stake in Germany-based ES-Tec Group and its subsidiaries for a cash consideration of 75 million euros (over Rs 775 crore). In a statement the company said it has signed a definitive agreement to purchase the entire equity of ES-Tec GmbH along with its subsidiaries collectively known as the ES-Tec Group. The consideration will be paid over the next two years and includes performance-based earn-outs it added. Tata Technologies To Acquire ES-Tec Group The acquisition of ES-Tec Group is a strategic leap that enhances our ability to deliver end-to-end product engineering solutions across the automotive value chain and represents our commitment to expand our global footprint in accessing innovative engineering capabilities Tata Technologies MD & CEO Warren Harris said. Founded in 2006 and headquartered in Wolfsburg Germany ES-Tec Group is a premium automotive engineering services provider with deep domain expertise in Driver Assistance Systems (ADAS) Connected Driving and Digital Engineering the statement said. It has a talent pool of over 300 skilled professionals and has built a strong reputation for delivering complex systems engineering solutions to its customers it added. Tata Tech MD On New Deal ES-Tecs technical depth customer centricity and regional strength align perfectly with our strategic vision to be the first partner choice for global OEMs navigating the shift towards intelligent connected and sustainable mobility Harris said. Commenting on the development ES-Tec MD & CEO Marc Wille said Joining forces with Tata Technologies is a key step for the ES-Tec Group to extend the breadth and depth of capabilities and expand our international presence. (With Inputs From PTI)