HYDERABAD, INDIA -- Cyient today announced an agreement to acquire a majority stake in EMS firm Rangsons Electronics for an undisclosed amount in cash.
Cyient, formerly Infotech Enterprises, will take a 74% stake in Mysuru-based Rangsons, which designs and manufactures electronics sytstems for the defense, aerospace, medical, automotive, telecommunications and industrial sectors.
The purchase price has not been disclosed.
In a statement, Cyient managing director and chief executive Krishna Bodanapu 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 deal will help Cyient "expand its core business while deepening partnerships with OEM customers,” he added.
Cyient is a provider of engineering services to an array of industries including aerospace, consumer, energy, medical, oil and gas, industrial, semiconductor, transportation, utilities and communications.
Rangsons operates two plants totalling about 95,000 sq. ft. in Mysore, where it performs SMT assembly and box build.