Daimler to partner with AKKA Technologies for European engineering consultancy firm image

Daimler Ag., on Thursday said together with AKKA Technologies S.A. will jointly manage the MBtech Group, an internationally leading engineering and consulting company based in Sindelfingen.

Under the new agreement, AKKA Technologies will acquire a stake of 65 percent in MBtech. The German automaker will retain 35 percent in MBtech, and will remain an important client of MBtech.

The idea is to boost MBtech competence profile outside the automotive industry and expand its international market position in the coming years. This will protect jobs at MBtech while offering new opportunities for the workforce in an expanded international environment.

The two companies complement each other ideally 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 euros.