UST to acquire a majority stake in Italdesign from Audi.

UST, a digital transformation solutions company, agreed to acquire a majority stake in Italdesign, a service company providing design, engineering and production for the transportation industry, from Audi, a German automotive manufacturer of luxury vehicles. Financial terms are not disclosed. "For many years Italdesign has been a valued partner in our development network, contributing expertise from design to prototype and series development. We are confident our collaboration will continue to drive success and deliver strong results under the new ownership structure. UST is the ideal partner to strengthen Italdesign's solid foundation while opening new market opportunities. Together, we aim to ensure that Italdesign remains an innovator in automotive design and engineering," Geoffrey Bouquot, Audi Member of the Board of Management for Technical Development.