Tata Technologies

Tata Technologies Limited is an Indian multinational product engineering company that provides services in engineering and design, product lifecycle management, manufacturing, product development, and IT service management to automotive and aerospace original equipment manufacturers as well as industrial machinery companies.[7][8] It is a subsidiary of Tata Motors.[9]

Tata Technologies
TypePrivate
Founded1989
HeadquartersPune, Maharashtra, India
Key people
Warren Harris (CEO and MD)[1]
Services
RevenueIncrease ₹4,414 crore (US$550 million) (FY23)[5]
Increase ₹796 crore (US$100 million) (FY23)[5]
Increase ₹624 crore (US$78 million) (FY23)[5]
OwnerTata Motors (74.69%)[6]
Number of employees
11,000 (2023)
Websitewww.tatatechnologies.com

Tata Technologies has its headquarters in Pune and regional headquarters in the United States (Detroit, Michigan). As of 2023, the company has a combined global workforce of more than 11,000 employees across its 18 delivery centres in India, North America, Europe and the Asia-Pacific region.[10][11]

History
Tata Technologies European Innovation & Development Center in Leamington Spa, England
eMO, a concept electric car developed by Tata Technologies, on display at the 2012 North American International Auto Show

Tata Technologies was founded in 1989, as the automotive design unit of Tata Motors.[12] It was hived off as a separate company in 1994, with Tata Motors continuing to hold a majority stake and be its biggest client.[13]

Tata Technologies Inc acquired INCAT International, a UK-and US-based automotive and aerospace engineering company, in August 2005 for £53.4 million.[14]

In 2011, Tata Technologies raised ₹141 crore (US$30 million) by selling 13% stake to Tata Capital and Alpha TC Holdings.[15]

In April 2013, Tata Technologies acquired Cambric Corporation, an American engineering services company, for $32.5 million.[16]

In 2017, in an effort to reduce Tata Motors' debt, the Tata Group announced that it would sell a 43% stake in Tata Technologies to private equity firm Warburg Pincus for $360 million and cease to be the controlling shareholder in the company.[17] However, the deal was called off in 2018.[18]

References
  1. "Tata Tech eyes acquisitions, 69% growth to nearly $800 mn by 2025". Business Standard. 10 June 2022. Retrieved 11 May 2023.
  2. Gopalan, Krishna (22 May 2009). "Tata Tech eyes $1b revenue in seven years: Patrick McGoldrick". The Economic Times. Retrieved 11 May 2023.
  3. "Tata Tech looking for buys up to $50 m". The Hindu Businessline. 25 March 2014. Retrieved 11 May 2023.
  4. "Tata Technologies to hire 400 people by March 2012". The Economic Times. 26 June 2011. Retrieved 11 May 2023.
  5. "29th Annual Report 2022-23" (PDF). Tata Technologies. Retrieved 4 July 2023.
  6. "India's Tata Technologies, a unit of Tata Motors, files for IPO". Reuters. 10 March 2023. Retrieved 11 May 2023.
  7. Srivastava, Moulishree (26 March 2014). "Tata Technologies plans to open more centres in India". mint. Retrieved 11 May 2023.
  8. Kalesh, Baiju; Shah, Sneha (7 April 2015). "Tata Motors and Tata Capital are looking to sell their 90% stake in Tata Technologies". The Economic Times. Retrieved 11 May 2023.
  9. Baggonkar, Swaraj (16 June 2022). "Tata Technologies to hire more amid talent crunch". The Hindu Businessline. Retrieved 11 May 2023.
  10. "Tata Motors arm Tata Technologies files draft IPO papers with Sebi". Business Today. 10 March 2023. Retrieved 11 May 2023.
  11. Shinde Nadhe, Shivani (20 September 2014). "Tata Technologies: Acquisitions key for $1-bn revenue target". Business Standard. Retrieved 4 July 2023.
  12. "Tata Tech eyes $250m buys to hit $1bn sales". The Times of India. 23 February 2015. Retrieved 11 May 2023.
  13. "PEs vie for $520 million Tata Tech stake". The Times of India. 22 April 2015. Retrieved 11 May 2023.
  14. "Tatas to acquire INCAT International". Rediff. 18 August 2005. Retrieved 21 January 2013.
  15. "Tata Tech sells 13% stake for Rs 141 cr to Alpha TC, TCGF". The Economic Times. 3 May 2011. Retrieved 11 May 2023.
  16. "Tata Technologies to acquire US-based firm Cambric for $32.5 million". The Economic Times. 26 April 2013. Retrieved 11 May 2023.
  17. Ghoshal, Devjyot (19 June 2017). "Tata Technologies: One of the best kept secrets of the Tata Group is leaving the mothership". Quartz. Retrieved 11 May 2023.
  18. Susmit, Sneh (5 February 2018). "Warburg Pincus, Tata Motors call off $360 million stake sale in Tata Technologies". mint. Retrieved 11 May 2023.


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