With its acquisition of Fusion Electronics, Concord Control Systems steps into high-value electronics manufacturing, targeting flex PCBs and EMS opportunities in India’s expanding tech ecosystem.
Concord Control Systems Limited (CNCRD), a supplier of embedded electronic systems and critical solutions, has announced the acquisition of Fusion Electronics Private Limited, marking its entry into the electronics manufacturing services (EMS) segment.
Under the agreement, Concord has acquired a 50% equity stake in Fusion Electronics, with the transaction to be completed within six months through cash consideration. The companies have not yet disclosed the exact amount of the transaction.
According to the company, the acquisition will help leverage Fusion’s technical expertise and global client base, while using Concord’s existing engineering and manufacturing strengths to develop a high-value EMS platform focused on import substitution and product diversification.
Furthermore, this will also enable Concord to diversify into a segment currently dominated by limited domestic players and characterised by significant import dependency.
Joint Managing Director Gaurav Lath said the acquisition supports Concord’s objective of expanding into the broader electronics manufacturing sector. He added that Fusion’s capabilities would complement Concord’s existing presence in railway and industrial electronics, enabling an expanded product portfolio.
The acquisition includes management changes, with Sameer Mehan resigning as Director of Fusion Electronics. New directors appointed include Gaurav Lath, Nitin Jain, Pankhuri Lath, and Mahima Jain.
Fusion Electronics has an installed annual capacity of around 200,000 square metres and a potential annual revenue of ₹2 billion when fully utilised. It provides flex roll-to-roll, rigid panel, and flex panel processing, catering to clients in the automotive, industrial, and electronics sectors globally.
Concord has outlined a growth roadmap for Fusion, including the commercialisation of its Lucknow facility by the end of 2025, followed by a twofold capacity expansion within three years. The company also plans to integrate surface mount technology (SMT), box build, and railway-electronics production under the new EMS business.
