Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Cyient DLM Expands To US With $29.2M Altek Electronics Acquisition

- Advertisement -

Aiming to supercharge its North American presence in the booming medical, industrial, and defence sectors, Cyient DLM Limited has made waves by acquiring US-based Altek Electronics for up to $29.2 million.

Cyient DLM Limited, an Indian integrated electronics manufacturing firm, acquired US-based Altek Electronics last week through its wholly-owned subsidiary, Cyient DLM Inc. The deal’s total value is estimated at up to US$29.2 million, including an initial payment of US$23.4 million and a performance-based earnout that could reach US$5.8 million.

With this, Cyient DLM aims to expand its footprint in North America, especially in the medical, industrial, and defence markets. The acquisition also adds 80,000 square feet (almost 7432.4 square metres) of manufacturing space. It brings International Traffic in Arms Regulations (ITAR) certification, enabling Cyient DLM to meet the demands of the growing US defence market.

- Advertisement -

Furthermore, the pact would facilitate Cyient DLM’s access to several ‘Fortune 500’ clients and other significant clients, given Altek’s robust industry presence.

Looking at this merger as a ‘pivotal milestone,’ Krishna Bodanapu, Executive Vice Chairman and Managing Director of Cyient DLM, commented, ” This enhances Cyient’s capabilities and reinforces our commitment to excellence, enabling us to deliver greater value to our global customers.” 

Anthony Montalbano, CEO of Cyient DLM, further emphasised that the deal would bolster its manufacturing capabilities and competitive edge in the American market. 

According to David Altschuler, CEO of Altek Electronics, Cyient DLM will help scale its operations by utilising global resources and industry expertise. He reaffirmed their commitment to the values that have driven their success and looks forward to leveraging expanded capabilities better to serve their customers, suppliers, and stakeholders.

Altek Electronics, now owned by Cyient DLM, is an electronic manufacturing services (EMS) provider in Torrington, Connecticut. Founded in 1972, Altek specialises in printed circuit board assemblies (PCBA) and box builds tailored for the medical, industrial, and defence sectors. In the calendar year 2023, Altek reported revenues of $37.2 million.

- Advertisement -

Most Popular Articles

Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.

Maini Group Partners With SiMa.ai To Enter Autonomous Tech Sector

0
Maini Group, which introduced India's first electric vehicle in the 1990s, has a longstanding commitment to electrifying in-plant machinery, especially in the Class 3...
Xiaomi EV Car

Xiaomi’s SU7 Ultra EV Prototype Sets A Lap Time Of 6 Mins & 46.874...

0
The car features cutting-edge aerodynamics and a lightweight carbon-fiber structure, along with advanced battery technology from CATL. Chinese smartphone maker Xiaomi, which has now forayed...

TVS Regains Second Place From Bajaj In Electric Two-Wheeler Market

0
The festive season has sparked a slight shift in the electric two-wheeler (e2W) market, as TVS iQube has overtaken Bajaj Chetak in sales. According...

Magna Secures European OEM Order For Hybrid-Compatible Transmissions

0
The first major contract for the new product has been awarded, supporting different vehicle models worldwide equipped with ICE transmissions. The new modular DCT...

India, Germany Unite at NXP’s Semiconductor Roundtable Event

0
Culminating in Germany's partnership for ELECRAMA 2027, NXP Semiconductors' Noida roundtable united German and Indian leaders to explore semiconductor cooperation. NXP Semiconductors hosted a...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...
Rupali Pawar, Senior Vice President of Business at Mukunda Foods

“Transforming Global Cuisines by Automating 80% Of Recipes” – Rupali Pawar, Senior Vice President...

0
In a recent discussion with Nitisha from EFY, Rupali Pawar, Senior Vice President of Business at Mukunda Foods, provided valuable insights into the advancements...
Harry Bajaj, CEO, Mobec Portable EV Charging Solutions

“Our Aim Is Not To Compete With Existing EV Infrastructure But To Complement It...

0
In a conversation with Nitisha Dubey of EFY, Harry Bajaj of Mobec Portable EV Charging Solutions, discusses his shift from the B2C to B2B...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Maini Group Partners With SiMa.ai To Enter Autonomous Tech Sector

0
Maini Group, which introduced India's first electric vehicle in the 1990s, has a longstanding commitment to electrifying in-plant machinery, especially in the Class 3...
Xiaomi EV Car

Xiaomi’s SU7 Ultra EV Prototype Sets A Lap Time Of 6 Mins & 46.874...

0
The car features cutting-edge aerodynamics and a lightweight carbon-fiber structure, along with advanced battery technology from CATL. Chinese smartphone maker Xiaomi, which has now forayed...

TVS Regains Second Place From Bajaj In Electric Two-Wheeler Market

0
The festive season has sparked a slight shift in the electric two-wheeler (e2W) market, as TVS iQube has overtaken Bajaj Chetak in sales. According...

Magna Secures European OEM Order For Hybrid-Compatible Transmissions

0
The first major contract for the new product has been awarded, supporting different vehicle models worldwide equipped with ICE transmissions. The new modular DCT...

India, Germany Unite at NXP’s Semiconductor Roundtable Event

0
Culminating in Germany's partnership for ELECRAMA 2027, NXP Semiconductors' Noida roundtable united German and Indian leaders to explore semiconductor cooperation. NXP Semiconductors hosted a...

Learn From Leaders

Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...
Rupali Pawar, Senior Vice President of Business at Mukunda Foods

“Transforming Global Cuisines by Automating 80% Of Recipes” – Rupali Pawar, Senior Vice President...

0
In a recent discussion with Nitisha from EFY, Rupali Pawar, Senior Vice President of Business at Mukunda Foods, provided valuable insights into the advancements...
Harry Bajaj, CEO, Mobec Portable EV Charging Solutions

“Our Aim Is Not To Compete With Existing EV Infrastructure But To Complement It...

0
In a conversation with Nitisha Dubey of EFY, Harry Bajaj of Mobec Portable EV Charging Solutions, discusses his shift from the B2C to B2B...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...