Syrma Technology, SGS Tekniks announce merger

By OEM Update Editorial December 7, 2020 2:18 pm IST

Syrma Technology and SGS Tekniks – leaders in electronic design and manufacturing services for global and domestic OEMs, announced a definitive merger agreement. The cash cum stock merger will see the creation of Syrma SGS Technologies Pvt. Ltd. with a combined turnover of over Rs.1,000 crore, with 55% revenues coming from exports primarily to USA and Europe. The deal was supported through a Private Equity investment by GEF.

Upon completion of this merger, Syrma SGS Technologies Pvt. Ltd. will have 8 manufacturing facilities in India across Gurgaon, Manesar, Bawal, Baddi, Bangalore, Chennai, Bargur, and 3 design centre centres in Chennai, Gurgaon, and Stuttgart in Germany.