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Tata Motors subsidiary to acquire UK company

Tata Group is to acquire UK-based engineering and design services company INCAT International Plc in a cash deal of £53.4m.

Tata Technologies Limited (TTL), a subsidiary of Tata Motors, today announced its intention to make a cash offer at 220 pence per share for the 100% equity shareholding of INCAT Tata Group said in a release.

The acquisition is to be made through Tata Technologies Inc., US (TTUS), a subsidiary of TTL and is expected to be completed in 20 days.

The board of INCAT has approved and recommended acceptance of this offer to its shareholders.

Both TTL and INCAT provide engineering and design service and PLM (product lifecycle management) products and services, primarily to manufacturers and their suppliers in the international automotive, aerospace and engineering markets.

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