Escenda to be fully acquired by Tata Technologies.

Escenda Engineering AB, a Gothenburg, Sweden-based product and design engineering company, announced being purchased by Tata Technologies, a global engineering services company.

The transaction has undisclosed terms and conditions and aims to significantly enhance Tata's scale and service offering in Sweden and across Europe.

Escenda, based in Gothenburg and led by CEO Stefan Wedin, is a leader in product engineering and design for the country’s world leading automotive sector. The company’s proven product development knowledge and history working with leading manufacturers will help deepen Tata Technologies’ expertise, facilities and capabilities with key partners in Sweden.

The automotive industry in Sweden is the country’s largest industry, employing half a million people and representing 12% of total country exports.

Escenda has more than 150 engineers and the company’s revenue has grown by approximately 230% across the last four years. The company has a long relationship with Volvo Cars and was awarded the Volvo Quality Excellence Award in 2016, an annual accolade given to partners who fulfilled and met the highest standards and demands of Volvo Cars.

Following the acquisition, Escenda Engineering AB is to be established as a 100% subsidiary of Tata Technologies Europe Limited. The company will maintain the same management team and full workforce under the new ownership.

The acquisition is an essential component in Tata Technologies’ European growth strategy and follows the recent $26mn (SEK234mn) investment in the development of a new European Innovation and Development Centre in the UK.