Minda Industries To Acquire Germany Based Company ISVS RTS
Minda Industries Limited has informed that the board of directors of the company at its meeting approved the acquisition of 80% of equity capital of iSVS RTS GmbH ('iSYS') based in Germany.
iSYS is a niche player engaged in systems engineering, development of hardware and software with product and services offering in embedded systems, Electronic Control Unit ('ECUs' or 'controllers'). These automotive ECUs/ controllers are used in lighting, infotainment systems, automation and building technologies amongst others. Marquee customers of iSYS include BMW and Rolls Royce, which is the testimony to the superior quality of controllers manufactured by the company.
The acquisition is in line with the strategy of the Company to increase its offering/kit value. This will also improve export prospects from India to EU and ASEAN nations.