HCL Technologies completed the acquisition of ASAP Group on 31 August after the company initiated the acquisition process on 12 July.

ASAP Group is a German automotive engineering services provider and works with the top automotive original equipment manufacturers and tier-1 suppliers in Germany. The company was founded in 2010 and is headquartered in Ingolstadt, Germany.

HCL Tech acquired the company for $279.72 million.

The company said in its exchange filing that it had initiated the acquisition of a 100% stake in ASAP Group on 12 July, along with a disclosure under Regulation 30(4) of the SEBI Regulations, 2015, and had completed the acquisition mentioned above on 31 August.

ASAP Group has over 1,600 employees across nine different locations in Germany.

On 10 August, HCL Tech signed a $2.1 billion deal with Verizon Business to provide managed network services to its global enterprise customers.