bengaluru indian it services major hcltech said late on wednesday it will buy german automotive engineering services firm asap group for an enterprise value of about 251 million euros 27983 million as it looks to grow in the automotive spacehcltech would leverage the acquisition for further expansion into automotive markets in europe the americas and japan the company said in a stock exchange filingfounded in 2010 asap group serves top automotive original equipment manufacturers and tier1 suppliers in germany its portfolio includes software development consulting services and vehicle development the statement addedthe announcement comes after hcltech reported a weakerthanexpected junequarter result as its technology and telecom clients cut discretionary spending amid global macroeconomic uncertaintiesthe companys net profit rose 765 to 3534 billion rupees 43091 million in the quarter ended june 30 but missed analysts average estimate of 3817 billion rupees according to refinitiv ibes data