FARMINGDALE, NY – Cemtrex has entered into a letter of intent to acquire an unnamed electronics manufacturer based in Silicon Valley.

This acquisition would be Cemtrex's first foray into the US electronics manufacturing market.

The unnamed EMS firm is focused on electronic manufacturing services primarily for semiconductor customers, as well as OEMs in the medical, industrial, and telecommunications industries. The company has averaged $7 million in annual revenues during the last two years.

"Silicon Valley is exactly where we want to be, as we know the opportunities for our products and services will be in high demand long into the future,” said Cemtrex's chairman and CEO, Saagar Govil. “With this deal, we will also be acquiring a support office in India, which will allow us to leverage low-cost engineering and administrative support to be competitive globally."

Terms of the deal were not disclosed. The transaction is expected to close before Dec. 31.

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