Homegrown Amber Group to buy controlling stake in Israel's Unitronics
Amber Group
has signed definitive agreements to take a controlling stake in Israel-based
Unitronics
, a global player in industrial automations and control systems, the company said in an exchange filing.
The company did not disclose the financials of the acquisition.
According to the terms of the acquisition, Unitronics will leverage Amber's electronics division -- IL JIN's extensive
electronics manufacturing
expertise to enhance operational synergies, accelerate innovation, and strengthen its product position in India.
The acquisition comes as the Amber group looks to expand its product portfolio in industrial applications. The acquisition will also help Amber with backward integration, enhancing competitiveness, and gaining access to global markets like US and Europe amid rising demand for
industry 4.0
applications.
"This transaction will significantly strengthen Amber's Electronic Division by providing a strong foothold in the rapidly growing sector of Industry 4.0 solutions and real-time data-driven technologies," said Jasbir Singh, executive chairman and CEO, Amber Group said.
Unitronics offers an extensive range of
industrial automation
products designed to meet the unique requirements of different applications including design, development, manufacturing, marketing, sale and support of products such as PLCs (Programmable logic controllers), HMIs (Human-Machine Interface), PLCs with integrated HMIs, VFDs (Variable Frequency Drives), Servo Drives, SaaS solutions like UniCloud, and Industrial Internet of Things (IIoT) with built- in business intelligence, supported by its all-in-one software for machine and process control across various industries, Amber said.
Amber currently makes consumer durables, hearable and wearable devices, telecom equipment, automotive solutions, energy meters, and defence solutions.
'This strategic partnership with Amber Group represents a pivotal moment in our journey. Driven by a shared vision, this collaboration aims to unlock powerful synergies and scale the business to new heights," said Haim Shani, Joint Chairman of Unitronic.
The executive will continue to serve on the board, and work closely with the Amber leadership, the joint statement added.
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