New Delhi, Jul 28 (PTI) Electronics component maker Kaynes Technology on Monday said it has acquired stakes in three firms - Aerocaliph Components, Cryo Precision Technologies and Tranzmeo IT -- with an aim to expand business in aerospace manufacturing.

Kaynes Technology has acquired an 11.13 per cent stake for around Rs 43 crore in Tranzmeo IT Solutions Private Limited, which is a deep-tech firm and has technology to turn passive fiber-optic cables into an intelligent long-range super sensing network, according to a regulatory filing.

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The company further said it acquired a 76 per cent stake each in Aerocaliph Components and Cryo Precision Technologies for Rs 60.27 lakh and Rs 7.03 lakh, respectively.

Both these firms operate in the field of aerospace manufacturing.

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Kaynes said the main object for acquiring stakes in these firms is "to expand the facilities foreseeing the upcoming possibilities and opportunities in the field of aerospace manufacturing sector in India".

All three acquisitions are expected to be completed by September 30, the filing said.

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