New Delhi, July 28 -- Consumer durable goods maker Amber Enterprises India Ltd will acquire a controlling stake in Israel-based industrial automation company Unitronics in a Rs 404-crore ($46.6-million) deal.
In an exchange filing, Amber Enterprises said its electronics division, ILJIN Electronics (India) Pvt Ltd, has signed an agreement to acquire a 40.24% stake in Unitronics (1989) (R"G) Ltd.
Following this deal, Amber will hold a 45.13% stake in the Israeli company, alongside Haim Shami, one of Unitronics' key shareholders.
Founded in 1989, the Tel Aviv Stock Exchange-listed Unitronics develops industrial automation systems, including programmable logic controllers (PLCs), human machine interfaces (HMIs), and integrated PLC-HMI solutions. It also offers SaaS-based products and industrial IoT products.
Amber said the acquisition aligns with ILJIN Electronics' strategy to expand into industrial applications by leveraging backward integration capabilities to localize manufacturing. "This move is expected to enhance the company's competitiveness in the Indian market and aligns with the growing demand for Industry 4.0 solutions and real-time data-driven technologies, and provide access to global markets like the US and Europe," Amber said.
In 2024, Unitronics reported revenue of $57 million (Rs 493 crore) with an EBITDA margin exceeding 30%. The company currently has a market capitalization of $110 million.
Published by HT Digital Content Services with permission from VC Circle.