Towards variable consideration
KPIT Technologies has completed the 1st Milestone of Euro 14.5 million out of the maximum variable consideration of Euro 30 million for acquisition of Technica Group.Breakup of Euro 14.5 million is as follows:
- Euro 9.5 million is towards earnout towards achievement of performance conditions &
- Euro 5 million towards acquisition of KPIT engineering SUARL, Tunisia. This is the nearshore development center for Technica GmbH, who is their sole customer.
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