Indian electronics manufacturer Amber Group acquires Israel-based Unitronics; company says: No governmental or …

India’s contract manufacturer for consumer durables and electronics Amber Group has announced in an exchange filing that it will acquire a controlling stake in Israel-based Unitronics, which operates in Industrial Automation and Control Systems, for over Rs 400 crore in an all-cash deal. The electronics manufacturer has signed definitive agreements to take a 40.24% stake in Unitronics. Amber’s electronics manufacturing subsidiary ILJIN Electronics will acquire 5,624,591 shares at NIS 27.75 per share for 156 million NIS (around Rs 403 crore) in an all cash-deal. Post the acquisition, ILJIN, together with Joint Chairman of Unitronics will own a 45.13% stake in the company. The company said that no governmental or regulatory approvals are needed for the deal. According to the company, the deal is with a “cash consideration” and expects it to be complete “within 60 business days from the effective date”.The acquisition comes as the Amber group looks to expand its product portfolio in industrial applications. The acquisition will also help Amber with backward integration, enhancing competitiveness, and gaining access to global markets like US and Europe amid rising demand for industry 4.0 applications.Nearly Rs 7,000 crore Amber Group makes consumer durables, hearable and wearable devices, telecom equipment, automotive solutions, energy meters, and defence solutions.

What are terms of Amber Group-Unitronics deal

According to the terms of the acquisition, Unitronics will leverage ILJIN’s extensive electronics manufacturing expertise to enhance operational synergies, accelerate innovation, and strengthen its product position in India. The executive will continue to serve on the board, and work closely with the Amber leadership, the joint statement added. Following the execution of shareholders’ agreement and proposed acquisition, Unitronics Joint Chairman Haim Shani will continue to serve on the board and closely work with the Amber leadership after the deal.

What the deal means for Amber Group

“This transaction will significantly strengthen Amber’s Electronic Division by providing a strong foothold in the rapidly growing sector of Industry 4.0 solutions and real-time data-driven technologies,” said Jasbir Singh, executive chairman and CEO, Amber Group said.Unitronics offers a range of industrial automation products designed to meet the unique requirements of different applications including design, development, manufacturing, marketing, sale and support of products such as PLCs (Programmable logic controllers), HMIs (Human-Machine Interface), PLCs with integrated HMIs, VFDs (Variable Frequency Drives), Servo Drives, SaaS solutions like UniCloud, and Industrial Internet of Things (IIoT) with built- in business intelligence, supported by its all-in-one software for machine and process control across various industries, Amber said in a statement.“This strategic partnership with Amber Group represents a pivotal moment in our journey. Driven by a shared vision, this collaboration aims to unlock powerful synergies and scale the business to new heights,” said Haim Shani, Joint Chairman of Unitronic.



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