The acquisition of Alpha Design Technologies will strengthen the positioning of the Gautam Adani-led group in defence sector
Adani Enterprises Ltd, the flagship entity of Adani Group, has acquired the Bengaluru-based defense electronics and avionics company Alpha Design Technologies Pvt Ltd for US$ 55.5 million (Rs 400 crore) in an all cash deal.
Adani Enterprises Ltd bought the stake in Alpha Design Technologies through its fully-owned arm Adani Defence Systems and Technologies Ltd, the company said in a a regulatory filing.
Alpha Design Technologies will provide Adani Defence a robust capacity for developing a base for advancing to platform capabilities, it said.
The latest acquisition will strengthen the positioning of the Gautam Adani-led group in defence sector.
Founded in 2003, Alpha Design Technologies is into the business of providing defence electronics, aero-structure assemblies, avionics, space and satellite systems and simulators. The company has recorded a consolidated turnover of Rs 218 crore during the fiscal of 2017-18.
The company’s key customers include global original equipment manufacturers (OEMs), defence PSUs and research organisations such as Defence Research and Development Organisation (DRDO) as well as Indian Space Research Organisation (ISRO) and Indian Armed forces.
New UAV manufacturing facility
Adani group also unveiled its own facility to manufacture unmanned aerial vehicles (UAVs) in Hyderabad on Friday.
Speaking at the launch of UAV manufacturing facility, Ashish Rajvanshi, Group Head – Defence and Aerospace, Adani Group, said that in the past two years, the group had concluded due diligence of around 300 micro, small and medium enterprises (MSMEs) in defence segment.
He further said that Adani Group will acquire some of these firms to help develop in-house capabilities.
Adani Group now holds 51 per cent in the joint venture (JV) UAV manufacturing facility in Hyderabad. The remaining 49 per cent is owned by Israeli defence giant Elbit Systems. The 50,000 square feet manufacturing facility is spread over 20-acre campus of the group.
Besides the acquisition of Alpha Design, Adani Group has a portfolio of firms including Autotech, Comprotech and JVs with Elbit, Rave Gears, Saab and Rosoboronexport.
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