UST, best known for providing internet and consulting services, is making a further push into the automotive world with its majority share purchase of the legendary Italian car design, production and engineering company Italdesign.
The Aliso Viejo-based company said it is taking the stake in Italdesign from its current owner, Lamborghini, which is a part of the Volkswagen Group of Germany. The price was not disclosed. Italdesign, which has more than 1,300 employees, reported 2024 sales of around $390 million, according to news agency Reuters.
Italdesign has collaborated on storied cars of the past, including those made by Ferrari, BMW, Alfa Romeo and Volkswagen itself.
UST said it will bring AI, digital tools, data and algorithms to the operations that once were handled by hand, creating a quiet revolution in how automobiles are brought to market.
“We have been in the automotive sector for the last few years. It was an extension of our semiconductor business,” UST Chief Financial Officer Vijay Padmanabhan told the Business Journal late last month.
“We are already working with many other leading automotive players,” he says. “We want to get into all the major automotive players globally.”
The UST link with Italdesign will make them “a strong end-to-end provider to automobile companies.”
$2B Revenue, Branching Out
Padmanabhan calls the automotive work a further branching out for UST, whose annual revenue jumped from $1.1 billion in 2019 to about $2 billion in 2025. It is the 14th largest private company in Orange County, ranked by sales.
“As we go into 2026, we have a strong booking, strong pipeline and strong deal signings that we have done in 2025, which gives us a confidence that 2026 is going to be a very strong year for us,” Padmanabhan said.
“Our entire customer base is Fortune 500 customers,” according to the CFO.
The sprawling company has more than 30,000 employees globally, with about 150 stationed at headquarters in Aliso Viejo.
UST is also having some “good conversations” around further potential acquisitions, the company’s finance chief says.
Purchase Shows Auto Change
The Italdesign majority share shows much car production has changed.
“For a sector that once treated design houses as temples of hand-drawn sketches and clay models, the deal signals how deeply AI is now embedded in the future of car making,” said industry website Fast Lane Only.
UST says it has built its business around AI, digital engineering and large-scale transformation projects for corporate clients, which sets it apart from traditional European automakers.
Italdesign’s current parent company, Lamborghini, is part of Volkswagen’s Audi Group. Lamborghini will retain a “significant stake” in Italdesign, according to UST’s joint announcement with the Italian company.
“Audi will remain a strategic partner of Italdesign in the long term, as well as an important client of the company,” the Dec. 10 announcement said.
UST says it plans to enable Italdesign to expand its international presence across UST’s global reach in more than 30 countries.
CFO Padmanabhan emphasizes that UST is strong in chip design, firmware and broadband, while the company is already active in retail, banking, financial services, semiconductors, technology and healthcare in addition to automotive.
“Automotive is one of the newer verticals for us,” he says.
Italdesign’s ‘Deep Knowledge’
“The majority takeover of Italdesign by UST creates a strong partnership that combines UST’s expertise in automotive engineering, artificial intelligence, software-defined vehicle development, and digital ecosystem design with Italdesign’s deep knowledge in vehicle and product design, engineering, prototyping, small series production, and automotive electronics,” the announcement said.
The agreement to purchase the majority stake in Italdesign is subject to regulatory approval.
“Together, the companies will be able to offer a comprehensive and integrated range of services—from early concept and design to hardware and software development through to production systems. This combined capability is designed to support the development of fully modern, digitally enabled vehicles,” UST said.
UST Has High Hopes for Italdesign Purchase
Italdesign, now led by UST of Aliso Viejo, has a long history of success.
The company is a global player in automotive design, engineering and production.
Headquartered in Moncalieri just outside Turin, in the heart of Vehicle Valley Piemonte, and with over 1,300 professionals across 10 international sites, Italdesign has been shaping the future of mobility, product and transportation design for more than 57 years.
Italdesign had 2024 sales equivalent to about $390 million, according to news agency Reuters.
“This acquisition reflects our bold vision to transform the mobility sector by combining Italdesign’s renowned heritage in vehicle design and manufacturing with UST’s expertise in vehicle electronics, embedded systems and AI,” said Gilroy Mathew, UST’s chief operating officer.
He added: “We’re positioned to drive the future of automotive innovation.”
