Tata Technologies to buy UK's INCAT Tech

By agencies   |   Friday, 19 August 2005, 07:00 Hrs
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LONDON: Tata Motors Ltd has said its Tata Technologies unit had agreed to buy UK engineering and design services company INCAT Technologies Inc for around 53.4 million pounds ($97 million).

Tata Technologies, which will pay 220 pence a share in cash for INCAT, said it had received undertaking from shareholders owning 35.9 per cent of the UK firm's share capital.

"The acquisition will give Tata Technologies greater scale and stronger positions in North America, Europe and Asia. This greater global scale will extend the reach of the enlarged group allowing it to offer a greater range of services to its global customer base," the firm said in a statement.

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