Jul 16: Minda Industries Ltd, the flagship company of UNO MINDA Group, on Monday announced acquisition of Germany-based iSYS RTS GmbH, a leading developer of embedded systems
and software to global vehicle manufacturers.
The agreement, which is subject to customary closing conditions and regulatory approvals, is expected to be completed by second quarter of FY18, according to the company.
“This acquisition provides Minda Industries access to iSYS RTS’s Technology and Global Customers. This will help Minda Industries expand its ECU offering and Technology Solutions in India and Global markets.
This acquisition will provide iSVS RTS the necessary capital infusion to fuel its growth and also provide
the solid backing of a large Tier-l like Minda Industries and enable it to take on larger programs and expand its product and customer base. iSVS RTS will also benefit from a solid manufacturing footprint of Minda Industries Ltd in an emerging country like India and also have access to Minda’s Engineering centre’s globally,” the company said.
Upon close of the transaction, iSYS RTS will become subsidiary of Minda Industries Ltd and operate as an independent unit led by its existing management team, while benefiting from Minda Industries scale. iSYS RTS will remain dedicated to serving and growing its target markets including automotive OEMs, the company added.
Speaking about the acquisition, N K Minda, Chairman of UNO MINDA Group said, “iSYS RTS will be at the core of our controller business strategy, as we seek to improve footprints with customers in
India and Europe. In addition, it will also help MIL offer high end cockpit electronics with premiumization of vehicles.”