Dixon eyeing to acquire majority stake in Transsion's manufacturing unit
By MYBRANDBOOK
Indian contract manufacturer Dixon Technologies is planning to acquire a majority 50.10% share in Ismartu India, a subsidiary of Transsion Technology Limited. It asserts that further acquisitions in tranches would be made in Ismartu. Ismartu India makes handsets under the brands iTel, Infinix, and Tecno in India. The acquisition aligns with Dixon Technologies' strategy to grow in this business segment and achieve strategic goals and business expansion.
“This acquisition is a momentous milestone for us, solidifying our positioning for sustained success and continued leadership in India's mobile phones manufacturing industry. The “ISMARTU” team brings a wealth of experience and knowledge to the table, and we are excited to work together to create a stronger, more diversified, and future-proof organisation,” Atul B. Lall, Vice Chairman & Managing Director of Dixon Technologies (India) Limited said in a statement.
This transaction will be however subjected to the approval of the Competition Commission of India (CCI) and other customary closing conditions.
Atul said the combined expertise, resources, engineering prowess, and other manufacturing capabilities of both companies will further capitalise on growth opportunities in the burgeoning Indian EMS industry.
“...there is immense potential to further build on the shared capabilities, such as those of other electronic product categories, the creation of a component ecosystem in India, and access to Global Markets, to deliver continued and sustainable growth,” he said.
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