your password has been reset successfully, Please login again.

Automobile Firm, Minda to Acquire Germany-based Company, Delvis Gmbh

This will also aid in delivering substantial synergies for expanding its lamp business and product offerings to original equipment manufacturers (OEM).
BY BEx Bureau
BusinessEx
Oct 09, 2019

Automobile company, Minda Industries Ltd. has inked a concord to fully procure Germany-headquartered company, Delvis Gmbh.

It agreed to purchase Delvis and its two subsidiaries Delvis Solution and Delvis Products for an enterprise value of 21 million (approximately $23.06 million, or INR 163.72 crore at current exchange rates), stated VC Circle citing the companys regulatory filings.

The acquisition was in line with its strategy of acquiring technological capabilities in existing product lines, the company added.

This will also aid in delivering substantial synergies for expanding its lamp business and product offerings to original equipment manufacturers (OEM), stated the cited media report.

This acquisition would help us bring this gap with cutting edge technology that Delvis has to offer to global markets, NK Minda, Chief Managing Director at Minda Industries, said in an interview to the cited media report.

Delvis, which was initiated in 2002, is operated by Matthias Ablen and Mario Wanniger. It provides OEMs, as well as European suppliers, in pre and development levels for products. It has forayed in validation services and electronic testing along with Audi through its entity, Delvis Solution. Furthermore, it renders on-site engineers to the automobile company, Volkswagen for validation as well as testing.

Please add your Comment
SIMILAR News
May 08, 2020
With this acquisition, Zoom will be getting some security credibility as it is witnessing rapid incr ...More
By Jaspreet Kaur
April 22, 2020
In unfavourable conditions, Indian companies are taking panicked decisions and opting for bridge rou ...More
By Jaspreet Kaur
April 04, 2020
Aavishkaar has wholly exited from Sara Plast, which is a portable sanitation services company ...More
By Jaspreet Kaur
March 31, 2020
A drop in Asia’s deal volume is recorded 17 per cent year-on-year to $142.9 billion ...More
By Jaspreet Kaur
March 23, 2020
Hypercollective focuses on rendering brands, corporates, and governments with solutions in communica ...More
By Jaspreet Kaur
March 19, 2020
As per the agreement, the Singapore-based company will amalgamate Pokkt’s technology into its online ...More
By Jaspreet Kaur
March 17, 2020
This business transaction is marked as the second largest private equity infusion in TVS Supply ...More
By Jaspreet Kaur
March 10, 2020
The startup essentially concentrates on hosting online events; its funding round was led by Accel In ...More
By Jaspreet Kaur
March 07, 2020
Singularity Automation is concentrated on firms working in the shared accommodation industry to hand ...More
By Jaspreet Kaur
March 04, 2020
ClearTax lately proclaimed to acquire the GST software arm of Karvy Data Management Services, which ...More
By Jaspreet Kaur
March 03, 2020
Affle India will acquire Mediasmart for nearly INR40.93 core and hold 94.78 per cent shares by cessa ...More
By Jaspreet Kaur
February 29, 2020
The acquisition will aid Lasa in bolstering its veterinary active pharmaceutical ingredients (APIs) ...More
By Jaspreet Kaur