KPIT Technologies Ltd — M&A Activity 2024

Apr 19, 2024

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April 19, 2024

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.

Scrip ID: KPITTECH Scrip Code: 542651 Kind Attn: The Manager, Department of Corporate Services

National Stock Exchange of India Ltd., Exchange Plaza, C/1, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai – 400051.

Symbol: KPITTECH Series: EQ Kind Attn: The Manager, Listing Department

Dear Sir / Madam,

Subject: - Disclosure of events & information pursuant to Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ("SEBI Regulations") - Update on Acquisition of PathPartner Technology Private Limited.

The Board of Directors of the Company had approved the acquisition of PathPartner Technology Private Limited (“PathPartner”) in its meeting held on June 21, 2021, which was intimated under SEBI Regulations. Now we wish to inform you that, with the closure of customary closing conditions as per the Share Purchase Agreement, the Company has acquired balance stake in PathPartner. Accordingly, PathPartner has become a wholly owned subsidiary of the Company.

The details of disclosure pursuant to Para A of Part A of Schedule III of the Listing Regulations read with SEBI Circular dated July 13, 2023, are enclosed herewith as “Annexure-A”.

Kindly take the same on your records.

Thanking you.

Yours faithfully,

For KPIT Technologies Limited

DESHPANDE Digitally signed by DESHPANDE NIDA YUNUS NIDA YUNUS Date: 2024.04.19 16:16:29 +05'30'

Nida Deshpande Company Secretary & Compliance Officer

O +91 20 6770 6000 E info@kpit.com W kpit.com

KPIT Technologies Limited Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192

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Annexure A

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Sr. Particulars Details
No.
1 Name of the target PathPartner Technology Private Limited (PathPartner)
entity, details in brief
such as size, turnover Turnover
etc. FY 20-21 INR 848.6 million
FY 21-22 INR 1,096.5 million
FY 22-23 INR 1,244.8 million
2 Whether the PathPartner is a related party.
acquisition would fall
within related party The payment of full and final tranche is on arm’s length
transaction(s) and basis.
whether the
The Promoter/ Promoter Groups/ Group Companies do not
promoter/ promoter
have any interest in PathPartner.
group/ group
companies have any
None of the KPIT Directors have any interest in PathPartner.
interest in the entity
being acquired? If Mr. Kishor Patil, Mr. Anup Sable are representative directors
of KPIT.
yes, nature of
interest and details
thereof and whether
the same is done at
“arm’s length”
3 Industry to which the Product Engineering and Embedded Technologies.
entity being acquired
belongs
4 Objects and effects  Strengthen KPITs software integration capabilities and
of acquisition help deliver complex software solutions for new-age
(including but not vehicle architectures.
limited to, disclosure  Early access to semiconductor technologies by
of reasons for leveraging PathPartner centers of excellence and
acquisition of target technical assets for automotive OEMs and Tier 1s.
entity, if its business  Provide compelling value in performance engineering of
is outside the main complex high compute domain controller software in
line of business of Autonomous, Infotainment, Connected, and
the listed entity) Electrification domains.
5 Brief details of any Not Applicable
governmental or
regulatory approvals
required for the
acquisition
6 Indicative time The deal is closed on fulfillment of customary closing
period for conditions.
completion of the
acquisition
7 Consideration - 100% Cash Consideration
whether cash
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KPIT Technologies Limited O +91 20 6770 6000 Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, E info@kpit.com Phase-III, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. W kpit.com CIN: L74999PN2018PLC174192

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	consideration or share swap or any other form and details of the same
8	Cost of acquisition and/or the price at which the shares are acquired	Cost of Acquisition of 100% stake has not exceeded INR 1,910 million.
9	Percentage of shareholding / control acquired and / or number of shares acquired	100% stake is acquired.
10	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief).	PathPartner Technology, a member of KPIT Group, is a product engineering and R&D specialist company helping its clients to develop, productize, and maintain advanced technology solutions. With extensive expertise in embedded operating systems, low-level processor architectures, hardware-accelerated computer vision, deep learning, radar, imaging technologies, and multimedia, PathPartner provides next-gen technology solutions to customers in automotive and intelligent edge devices. Date of Incorporation: July 6, 2006 Turnover for last 3 years: FY 20-21 INR 848.6 million FY 21-22 INR 1,096.5 million FY 22-23 INR 1,244.8 million PathPartner is an Indian company which currently employs 350+ people. It is headquartered in Bengaluru, with R&D centers in Kochi, India; California, USA and a office in Frankfurt, Germany.

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O +91 20 6770 6000 E info@kpit.com W kpit.com

KPIT Technologies Limited Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192