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AKKA Technologies acquires 65% interest in Daimler engineering and consultancy subsidiary MBtech Group

Subject to the approval of the antitrust authorities, AKKA Technologies will acquire a stake of 65% of Daimler subsidiary MBtech Group, an engineering and consulting company based in Sindelfingen. Daimler will retain 35%, and Daimler and AKKA will jointly manage MBtech.

The entry of AKKA Technologies at MBtech Group will create one of the biggest European engineering consultancies. AKKA Technologies is a listed company and is an engineering consultancy for the automotive, aeronautics, space, transport and energy sectors. In the area of aeronautics engineering, the company is already the market leader in Europe.

Daimler says that the two companies complement each other in their sectoral structure, client portfolio and regional positioning: AKKA Technologies has its main focus on France, Italy, Spain and the United Kingdom, while MBtech has a strong market position in Germany, China and the United States.

The MBtech Group was established by Daimler AG in 1995. The company develops, integrates and tests automotive components, systems and modules, and employs 2,900 people at locations in Europe, North America and Asia. In the year 2010, it posted revenue of €300 million (US$402 million).

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