M&A

Design-led manufacturer Cyient acquires US co. Altek Electronics for $29.2 M

BSE Announcement   Business Line  

Bengaluru-based electronic manufacturing services provider Cyient DLM (via its subsidiary Cyient DLM Inc.) has acquired the US-based Altek Electronics Inc for USD 29.2 million which includes an upfront payment of USD 23.4 million and a performance-based earnout of up to USD 5.8 million.Altek manufactures printed circuit board assemblies and box builds for the medical, military, industrial, and telecommunications industries.The acquisition is expected to add Fortune 500 clients to Cyient DLM's portfolio and strategic engagements with multiple key clients and expand its geographic footprint.

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