AZB & Partners Advised Wistron Infocomm Manufacturing (India) Pvt. Ltd. in its acquisition by Tata Electronics
In a groundbreaking move within the electronic manufacturing sector, Tata Electronics Private Limited has successfully acquired
By : Legal Era
Update: 2024-02-16 08:00 GMT
AZB & Partners Advised Wistron Infocomm Manufacturing (India) Pvt. Ltd. in its acquisition by Tata Electronics
In a groundbreaking move within the electronic manufacturing sector, Tata Electronics Private Limited (Tata Electronics) has successfully acquired a 100% stake in Wistron Infocomm Manufacturing (India) Private Limited (Wistron India), with AZB & Partners advising Wistron Infocomm Manufacturing (India) Pvt. Ltd.
Wistron India, a prominent player in the electronic manufacturing services sector, specializes in contract manufacturing of electronics, particularly smartphones. With its state-of-the-art manufacturing plant located in Karnataka, Wistron India has established itself as a key contributor to India's burgeoning electronics industry.
Tata Electronics Private Limited is a subsidiary of Tata Sons, known for its innovation and quality in electronic manufacturing. Specializing in smartphone enclosures, it epitomizes precision engineering and advanced technology. With a focus on sustainability, it aims to revolutionize electronic manufacturing in India and globally.
The acquisition by Tata Electronics, a Greenfield venture of Tata Sons Private Limited, is poised to further enhance the capabilities and market presence of both entities in the rapidly evolving smartphone manufacturing landscape.
The transaction, culminating with the signing of the transaction documents on 08th November, 2023, obtained approval from the Competition Commission of India (CCI) on January 23, 2024. It involved Tata Electronics acquiring Wistron India's entire equity share capital from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited. This acquisition enables the Tata Group to officially join the Apple supply chain as an iPhone assembler by acquiring a 100% equity stake in Wistron Infocomm Manufacturing (India).
The acquisition, valued at approximately USD 125 million (INR 10.37 billion), marks a significant milestone in Tata Electronics' expansion strategy and underscores its commitment to becoming a key player in the Indian smartphone manufacturing landscape.
AZB & Partners facilitated the deal, led by Senior Partner Bharat Budholia and supported by Senior Associate Varun Thakur.