Hero Electronix builds end-to-end engineering capabilities with acquisitions in Malaysia and Singapore

- Advertisement -
- Advertisement -

In a bid to become an end to end provider for engineering and manufacturing of electronic components, Hero Electronix, a part of $5 billion Hero group has made two more acquisition in South East Asia.

Hero Electronix, engineering capabilities, new acquisition, india
The company on Tuesday announced that it has acquired – Malaysia’s Spectrum Integrated Technologies Sdn Bhd and the test lab business of Singapore’s Lynxemi Pte Ltd. The acquisitions were made through Tessolve, a Hero Electronix Venture and a leading provider of engineering services.

The New acquisitions will add to Tessolve’s strategic capabilities to support its customers, which include leading semiconductor companies, the company said in a statement. The acquisition size is not big, claims the company, but the addition of Spectrum Integrated Technologies and Lynxemi further pushes the cause of the company towards its goal of driving India to be a future hub for manufacturing of electronic systems.

- Advertisement -

Hero Electronix and its group companies have a planned investment outlay of Rs. 1,000 – 1,200 crore by 2022, aimed at building businesses in the advanced technologies and electronics engineering space. Hero Electronix’s revenue at the end of FY 2017 stood at Rs. 600 crores; Tessolve, a company it acquired in 2016 was a key contributor growing at 40% y-o-y.

Lynxemi operates a test facility supporting customers in new product test development to low volume production of semiconductor chips. The lab is strategically located in Singapore, and adds to Tessolve’sability to support its global semiconductor customers who are expanding their engineering presence in Asia.

Ujjwal Munjal, Founder-Director, Hero Electronix told ET during the past 18 months the company has added strategic capabilities through the embedded acquisition in 2016 and the two new additions in PCB fabrication and test lab will allow Hero Electronix to work more closely with our customers as their strategic partner.

The CEO and Founder of Tessolve, P Raja Manickam says thanks to the association with Hero Electronix, Tessolve has been able to fill the gaps that will allow the company to offer complete solution to the customers which includes engineering capabilities and strategic infrastructure.

By Baishakhi Dutta

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...