Diversified electronics company Centum Electronics on Friday said it's acquiring a controlling stake of 51 per cent in France's Adetel Group, but did not disclose the size of the deal.
Centum Electronics offers a broad range of services in defence, aerospace, space, industrial, medical and communications.
The acquisition of Adetel Group brings expertise in design, development and industrialisation of embedded electronic systems for defence, aerospace, industrial, transportation, medical and energy sectors to Centum's availability, said a Centum Electronics statement.
"The acquisition now makes Centum Electronics one of the forerunners in the market, enhancing the company's already expanding growth and performance," the statement said citing Chairman Apparao Mallavarapu.
Adetel Group also brings an excellent customer base to Centum Electronics which enables the company to enter new markets.
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"Becoming a supplier associated with a bigger group, Adetel will be capable of assisting its clients and partners in their own development strategy across global markets," said the statement citing Adetel Group CEO Francois Sebes.
Sebes expressed his interest in opening an Adetel Group subsidiary in India.
The new partnership gives the advantage of greater international presence to the two companies.
"This acquisition is a result of perfect synergies between the two companies, ensuring greater value creation for our customers. We can now accelerate growth, fill product portfolio gaps, improve our market position, benefit from the use of even more advanced technology," said Apparao.
Established in 1994 by Apparao, Centum Electronics earns 80 per cent of its revenue from global markets while Adetel Group with 600 employees is present in France, Canada, US and Morocco.
--IANS
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