Minda Industries Limited, flagship company of UNO MINDA Group has announced acquisition of iSYS RTS GmbH.
Headquartered in Munich, Germany, iSYS RTS develops embedded systems as well as hardware and software components for Global OEM’s. The company offers Engineering Services and also manufacturers Automotive Electronic Control Units (‘ECU’s).
Areas of specialization of iSYS RTS include ECU’s for Automotive Body and Comfort Systems, AUTOSAR ECU’s, ECU’s and Software components for Automotive Lighting, Interior Lighting Systems, Electrical Drive ECU’s and Development of HMI and Infotainment Applications.
For Minda Industries this acquisition provides it access to iSYS RTS’s Technology and Global Customers. This will help Minda Industries expand its ECU offering and Technology Solutions in India and Global markets. While for iSYS RTS it provides the necessary capital infusion to fuel its growth and a solid manufacturing footprint of Minda Industries Ltd. in an emerging country like India and also have access to Minda’s Engineering centre’s globally.
The agreement is subject to customary closing conditions and regulatory approvals, is expected to be completed by second quarter of FY18.
Source: Press Release