Centum Electronics today announced acquisition of controlling stake in France’s Adetel Group.
“Centum Electronics will hold 51 per cent controlling stake in Adetel Group, with an option to increase it further at a future date. This acquisition will help us consolidate and grow in these geographies where Adetel operates,” Centum Electronics Chairman and Managing Director Apparao Mallavarapu told PTI.
The company however did not disclose the size of the deal.
“We can now accelerate growth, fill product portfolio gaps, improve our market position, benefit from the use of even more advanced technology and of course, establish a wider, more international presence,” he added.
Adetel has operations in the US, Europe and Canada.
Both the companies offer services in the defence, aerospace, space, industrial, medical and communications.