Business News | CCI Greenlights Tata Electronics' 100 Per Cent Acquisition of Wistron Infocomm Manufacturing (India)
Get latest articles and stories on Business at LatestLY. According to CCI, this significant move marks the latest development in the competitive landscape of the electrical and electronics manufacturing sector in India.
New Delhi [India], January 24 (ANI): The Competition Commission of India (CCI) has approved the 100 per cent acquisition of Wistron Infocomm Manufacturing (India) Private Limited by Tata Electronics Private Limited.
According to CCI, this significant move marks the latest development in the competitive landscape of the electrical and electronics manufacturing sector in India.
The proposed combination involves the acquisition of the entire equity share capital of Wistron Infocomm Manufacturing (India) Private Limited (the Target) from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited by Tata Electronics Private Limited (the Acquirer).
Tata Electronics Private Limited, a greenfield venture of Tata Sons Private Limited, specializes in the manufacturing of smartphone enclosures--a critical and high-precision component for smartphones.
The Target, established in 2017 by the Wistron group, is an electrical and electronics manufacturing company primarily engaged in electronic manufacturing services.
It specializes in contract manufacturing of electronics, with a focus on smartphones. Target operates from its plant in Karnataka, contributing significantly to the smartphone manufacturing ecosystem in India.
This approval by CCI reflects the commission's evaluation of the proposed acquisition, considering competition dynamics, market impact, and regulatory compliance.
While the approval paves the way for Tata Electronics to acquire the entire share capital of Wistron Infocomm Manufacturing (India) Private Limited, it remains subject to adherence to regulatory requirements and fulfilment of all applicable conditions.
The move comes at a time when the electronics manufacturing sector in India is witnessing increased investments and strategic alliances.
Tata Electronics' foray into smartphone enclosures aligns with the broader goal of strengthening domestic manufacturing capabilities and contributing to the 'Make in India' initiative.
Tata Electronics, as part of the Tata Group, has a legacy of diverse business interests and a commitment to fostering innovation and sustainability.
The 100 per cent acquisition of Wistron Infocomm Manufacturing (India) Private Limited is expected to enhance Tata Electronics' position in the electronics manufacturing space and contribute to the growth of the sector in India.
As the Indian electronics manufacturing landscape continues to evolve, strategic acquisitions and collaborations are becoming pivotal for companies aiming to leverage emerging opportunities and address the evolving demands of consumers.
The CCI's approval of this acquisition reflects a balanced approach towards encouraging business initiatives while ensuring fair competition within the market. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)