KPIT acquires cloud-based vehicle diagnostics specialist SOMIT solutions

• SOMIT has been working with many luxury & new age OEMs
• Adds complementary capabilities to KPITs vehicle diagnostics portfolio
• Opens up new possibilities into the multi-billion automotive aftersales market and addresses a higher value share in Top 25 clients

Munich, Germany; Pune, India; Coventry, UK  | 25 May 2022 | NSE: KPITTECH BSE: 542651 – KPIT Technologies Ltd, a global partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, announced the acquisition of cloud-based vehicle diagnostics specialist SOMIT solutions.

SOMIT enables after-sales operations of high tech luxury and new age OEMs through a cloud-based vehicle diagnostics platform & expert consulting services.

Vehicle complexity is outgrowing existing servicing capabilities due to rapidly evolving software-centric architectures, high-tech automotive engineering, and an acute shortage of trained and certified service technicians across the globe.

SOMIT’s cloud-based platform features an intelligent and intuitive diagnostics solution that will enhance a service technician’s user experience and improve service quality by increasing the ratio of first-time-right repairs.

Mr. Kishor Patil, Co-founder, CEO, and MD, KPIT Technologies, said, ” We are very excited to welcome SOMIT Solutions to the KPIT family. SOMIT has created a niche for themselves in the challenger EV OEM segment. Their cloud-based platform complements KPITs existing after-sales platform to offer a more integrated solution for the benefit of our T25 clients. KPITs strategic T25 clients will benefit immensely. Generating revenue through the lifecycle of a vehicle is a key priority for OEMs. SOMIT and KPIT will better enable their OEM clients in realizing this strategic objective. This will be one of the fastest-growing market opportunities in the next 3-5 years.”

Mr. Julian Soanes, Founder and CEO,  SOMIT solutions, said,  “We are thrilled to join forces with KPIT. KPITs’ global leadership in the mobility ecosystem and complementary expertise in vehicle diagnostics will help us to offer holistic solutions to clients. Our vision to build cloud-based, scalable diagnostics and after-sales solutions that offer comprehensive coverage will be strengthened by KPIT. Together we will create leadership and innovation in this business segment. ”

Mr. Stefan Zeppetzauer, Business leader – Vehicle Diagnostics, KPIT Technologies, said, “By integrating solutions from SOMIT, KPIT will further strengthen the leadership position of its AI-driven guided diagnostics platform. Additionally, the integrated solution will enable KPIT & SOMIT to broaden industry reach, while maximizing aftersales service efficiencies for clients in the automotive and mobility industry.”

About KPIT

KPIT is a leading independent software development and integration partner helping mobility leapfrog towards a clean, smart, and safe future. With 10,000 automobelievers across the globe specializing in embedded software, AI, and digital solutions, KPIT accelerates its clients’ implementation of next-generation technologies for the future mobility roadmap. With engineering centers in Europe, the USA, Japan, China, Thailand, and India, KPIT works with leaders in automotive and mobility and is present where the ecosystem is transforming. For more details, visit www.kpit.com

KPIT Newsroom and Media resources center: https://www.kpit.com/newsroom/

MEDIA CONTACTS

Mohit Kochar

Global Head , Marketing  | mohit.kochar@www.kpit.com

Sunil Ravish

Director , Marketing | Media Relations  | sunil.r@www.kpit.com

INVESTOR RELATIONS

Sunil Phansalkar

Head, Investor Relations | sunil.phansalkar@www.kpit.com

About SOMIT

There is a revolution in the automotive sector, with the introduction of new technologies, new routes to market, new thinking and expectations of customers. Somit Solutions experience, services and products are designed to help enable and steer the vehicle manufacturers and new mobility providers on this new and exciting journey.

Somit Solutions’ blend of technical expertise, competence, flexibility, agile working and deep customer understanding is leading the way in reimagining what is possible in automotive and aftersales. Based in UK and USA, Somit Solutions products and services are already established in many start up vehicle manufacturers as well as some of the biggest brands in automotive, looking to support their rapidly changing business.

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