The automotive and mobility ecosystem of the focused IT services company known as KPIT Technologies has now announced the acquisition of SOMIT solutions, a vehicle diagnostics company based on cloud, and the total of the acquisition is going to be around 7.68 billion pounds.
The company ‘SOMIT’ is enabling the after-sales operations of the high tech luxury and the new age OEMs through a vehicle diagnostics platform based on cloud and expert consulting services.
Kishor Patil, chief executive officer, MD and co-founder of KPIT Technologies said, SOMIT has now created a niche for themselves in the challenger electric vehicle OEM segment and the company’s cloud-based platform has been complementing the KPIT’s existing after-sales platform for the purpose of offering a more integrated solution for the benefit of their T25 clients.
He also said that, the strategic T25 clients of KPIT is going to be benefitted immensely and generating the revenue through the lifecycle of a vehicle has been a main priority for the OEMs, and both the companies are better enabling their OEM clients in realizing the particular strategic objective. This is going to be one of the fastest-growing market opportunities in the upcoming 3 years to 5 years.
The complexity of vehicle is outgrowing the existing servicing capabilities because of the rapidly evolving software-centric architectures, along with high-tech automotive engineering along with an acute shortage of the certified and trained service technicians across the world.