Shares of KPIT Technologies Ltd are in focus on Wednesday after the IT firm said it has raised its stake in N-Dream to 88.9 per cent. On August 8 this year, the IT firm had informed stock exchanges that it had upped its stake in N-Dream to 51 per cent from 26 per cent for 6.5 million euros, making it a subsidiary.
The IT firm had then suggested that it would increase its stake in N-Dream to up to 90 per cent in two or more tranches during the current financial year.
“We wish to inform you that the company, through its wholly owned subsidiary, KPIT Technologies (UK) Limited, has acquired further stake of 62.9 per cent, taking the total of KPIT group shareholdings to 88.9 per cent in N-Dream at a consideration of 16.35 million euros. As a result, N-Dream has become a step-down subsidiary of the company,” KPIT Tech said.
Switzerland-based N-Dream AG is a cloud-based game aggregation platform. KPIT’s investment aims to help automotive OEMs enhance in-car experiences, with KPIT providing software integration and validation services to N-Dream’s automotive clients.
Both parties will collaborate towards offering value-added data products for Automotive OEMs, thereby enabling them to create additional monetizable experiences & features.
KPIT Technologies initiated made strategic investment of 13 per cent in N-Dream in 2023. On July 24, 2024, it bought an additional 13 per cent stake in N-Dream to take the total shareholding to 26 per cent. By August 8, KPIT Tech held 51 per cent stake in N-Dream.