"This acquisition is a milestone in our strategic ambition to increase our presence on the
German market," said Detlef Baudach, managing director at Ricardo GmbH, Ricardo's German subsidiary.
The companies complement each other:
Prototechnik-IFT specializes in the development of engine systems, while Ricardo builds transmissions for the likes of the Bugatti Veyron and develops simulation programs.
Prototechnik-IFT has annual revenue of 33 million euros. Ricardo, which has annual sales of 250 million euros, also recently bought British software specialist Tarragon.