A thermoplastic elastomer composition has a plastic phase or matrix of an engineering thermoplastic such as a polyamide and a crosslinked phase of cured acrylic rubbers. The rubbers contain at least two functionalized acrylic rubbers wherein the functional group such as a carboxyl, an epoxy, or a hydroxyl can be the same or different. The curing agents generally react via covalent bonding with the reactive functional groups of the rubbers. The composition can be dynamically vulcanized and when one of the rubbers is a terpolymer of ethylene-alkyl acrylate-unsaturated carboxylic acid, the composition has a single low temperature brittle point.