City-based engineering, network and operations solutions firm Cyient is acquiring 74 per cent equity stake in Rangsons Electronics Pvt. Ltd., an electronics system design and manufacturing (ESDM) services company in Mysuru.
Announcing the signing of a definitive agreement on Friday, Cyient said it is an all-cash transaction. The acquisition would help it expand into high-technology and high-value, design-led systems and solutions.
Managing Director and CEO Krishna Bodanapu said the strong domain expertise coupled with a comprehensive solution portfolio, industry-relevant processes, certifications, and global customers of Rangsons Electronics fitted extremely well in Cyient’s business.
Rangsons Electronics provides services from design-to-production and end-of-life support. It is a qualified supplier to global OEMs across defence and aerospace, medical, automotive, telecommunications, and industrial segments.
“The combined entity will be positioned uniquely as an end-to-end integrated engineering, design and manufacturing provider, Rangsons Electronics CEO Pavan Ranga said.
