M&A

M&A

Syrma SGS acquires defence & maritime equipment makers Elcome and Navicom for Rs.235-Cr

Business Line  

Syrma SGS, an electronics manufacturer, has acquired Mumbai-based Elcome Integrated Systems . The acquisition involves an initial 60% stake in Elcome for INR 235 crore. Elcome will, in turn, acquire the entire paid-up share capital of Mumbai-based Navicom Technology International, making Navicom a wholly-owned subsidiary of Elcome.Both Elcome Integrated Systems and Navicom Technology International manufacture defence and maritime equipment. For FY25, Elcome reported a revenue of INR 155 crore, while Navicom Technology's revenue stood at INR 52 crore.