In Short:
Cyient DLM has acquired Altek Electronics, a US-based electronics manufacturer, boosting its presence in North America, especially in the medical, healthcare, industrial, and defense sectors. This acquisition adds 80,000 sq ft of manufacturing space and several Fortune 500 clients, enhancing Cyient’s capabilities and competitive edge in the growing US defense market. Financial details were not shared.
Exciting News from Cyient DLM!
Cyient DLM, a trailblazer in integrated electronics manufacturing, has made waves with its latest announcement: the acquisition of Altek Electronics, a prominent player in the US electronics manufacturing services (EMS) arena. This strategic move is set to give a significant boost to Cyient DLM’s presence across North America, particularly in the medical, healthcare, industrial, and defence sectors.
A Gateway to New Opportunities
According to a senior executive at Cyient DLM, “Altek Electronics will enable us to tap into the burgeoning US defence market. This acquisition will also enrich our portfolio with several Fortune 500 clients.” This partnership opens doors for exciting new opportunities and growth.
Expanded Manufacturing Capacity
With this acquisition, Cyient DLM is gearing up to bolster its manufacturing capabilities by adding an impressive 80,000 sq ft of manufacturing space. This expansion is designed to better serve clients around the globe, showcasing Cyient DLM’s commitment to meeting growing demands.
Strengthening Global Presence
Krishna Bodanapu, Executive Chairman of Cyient DLM, expressed the significance of this milestone: “This not only expands our global footprint but also brings us closer to our strategic customers, significantly strengthening our capabilities.”
Enhancing Competitive Edge
Anthony Montalbano, CEO of Cyient DLM, added that the acquisition will greatly enhance the company’s manufacturing capabilities and capacity, solidifying its position in the competitive North American landscape.
Looking Ahead
While the **financial terms** of this exciting deal remain undisclosed, it’s clear that Cyient DLM is poised for a bright future with this bold move into the US market.
