M&A

M&A

Samvardhana Motherson to acquire 72% in US-based display screens maker Prysm Systems for $34-M

BSE Disclosure  

Publicly-listed Samvardhana Motherson International Ltd (SAMIL, via its unit MSSL Consolidated Inc) is to invest USD 14 million in an optionally convertible secured note of Milpitas, CA (USA)-based Prysm Systems Inc. Prysm makes large format touch-enabled display screens with embedded collaborative software for use in corporate meeting rooms, video conferences, indoor large displays etc. SAMIL will invest a further USD 20 million and convert the secured note into a majority stake of not less than 72% in Prysm. Prysm, which has developed proprietary technology in laser phosphorus display (LPD) with display sizes starting from 100+ inches, has two facilities in the US: one each in Massachusetts California, along with offices in the Middle East and India. Its turnover for Calendar 2022 was USD 6.15 million.