JBM Cadmium, part of JBM Group, has acquired Tesco Go, which provides product development engineering services to the auto, railway and aerospace sectors.

A reliable source close to the development said the deal was worth around US$40m. The source added: “Now, we can think globally and act locally.”

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Tesco Go was established 43 years ago and now has offices in Detroit, London, Munich, Stuttgart and Turin employing around 300 people. Customers include Piaggio, MAN, McLaren, Mercedes Benz/Daimler, JMC, Ford, Iveco, Lamborghini, Scania, Bajaj, BMW, Chrysler, Fiat, Maserati and Tata.

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