Cyient Limited (Cyient) will acquire majority stake in Rangsons Electronics Private Limited (Rangsons Electronics), a leading electronics system design and manufacturing (ESDM) services company, in Mysore.
According to a statement issued by the company, Cyient has signed a definitive agreement to acquire 74 per cent equity stake in Rangsons Electronics. The acquisition positions Cyient strongly to expand into high-technology and high-value, design-led systems and solutions in line with the company’s S3 (services, systems and solutions) strategy.
Rangsons Electronics is a qualified supplier to global OEMs across defense, aerospace, medical, automotive, telecommunications, and industrial segments. Rangsons Electronics has world-class production facilities, and provides services from design-to-production and end-of-life support. This also encompasses strong capabilities in managing new product introduction cycles, including prototyping, certification and vendor management, the statement added.
Krishna Bodanapu, Managing Director and CEO, Cyient said, “With its strong domain expertise coupled with a comprehensive solution portfolio, industry-relevant processes, certifications, and global customers, Rangsons Electronics fits extremely well in Cyient’s business. The new relationship will help Cyient expand its core business while deepening partnerships with OEM customers. I look forward to working closely with the Rangsons team to achieve the maximum synergy from this acquisition, and believe that this will make our offerings even more attractive to our customers.”
The acquisition will also help Cyient to position itself as a strong offset partner. Further, integrated end-to-end capabilities would strengthen the company’s contribution to the ‘Make in India’ program announced recently by the union government.