Altran buys Pricol Technologies, adds 520 tech engineering specialists

16 February 2017 2 min. read
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Altran has acquired India-based specialist engineering firm Pricol Technologies. The acquisition boosts the firm's capability in the rapid prototyping space, adds around 520 staff to the firm as well as a number of proprietary technologies and processes. The value of the deal has not been disclosed.

Pricol Technologies is the engineering division of parent company Pricol Group, a $350 million business based in India. The company, founded in 2006, provides clients across the globe with engineering solutions that enable them to conceptualise, design and manufacture products. Pricol Technologies, which is headquartered in Coimbatore, has sales offices in the US, UK and Japan and leverages design centres in Coimbatore and Pune (both in India) for its solution development.

Altran buys Pricol Technologies

The acquisition boosts Altran’s global growth ambitions as part of its wider 'Altran 2020. Ignition' strategic plan. The acquisition, which joins a recent series of acquisitions, generates around 60% of its revenues from US-based blue-chip clients, further boosting Altran’s presence in North America. In addition, the firm’s “Innovative and proprietary ‘co-engineer offshore model” becomes part of Altran’s wider capabilities, allowing the firm to further expand its 4,500-person strong Industrialised Global Shore delivery capabilities.

Commenting on the purchase, Dominique Cerutti, Chairman and CEO of the Altran Group, states, “With Pricol Technologies, we not only add a recognised and integrated delivery capability in India, we also complete our geographical footprint in the Mid-west of the US, after the acquisitions of Synapse and Lohika a few months ago, which established a significant presence for Altran on the West Coast. These two factors will allow us to accelerate our development with our global clients in the region, in particular in the automotive sector.”

Bobby John, CEO of Pricol Technologies, adds, “Over the last few years, we have managed to achieve a critical scale and maturity in terms of employee base, processes and service portfolio, and now, we are ready to accelerate growth and work on larger deals. We will be able to extend our services beyond our current client base to a new portfolio that Altran can provide us access to. We are tremendously excited at being part of the largest engineering and R&D service provider in the world.”

Altran has global revenues of €2.1 billion, its headcount is nearing the milestone of 30,000.