Syrma Technology & SGS Tekniks leaders in electronic design and manufacturing services for global & 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 ₹1000 crore with 55% revenue coming from exports primarily to USA & Europe. The deal was supported through a Private Equity investment by GEF. 

This Merger 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. This strategic merger is a perfect fit as there are no overlapping customers, industry verticals and geographies between the two entities. Further, with the established track record and strong expertise of the combined entity will serve marquee customers in Industrial, Water Purification, Medical and Automotive industries. 

According to Sandeep Tandon, Managing Director, Syrma Technology Pvt Ltd, application areas such as medical electronics and defence electronics are seeing a surge leading to growth in the overall electronics sector. With the Indian Government having announced incentive schemes like PLI, Specs, EMC 2.0, etc., for developing the ecosystem, there is a bigger need for technological advancement in the EMS sector. This merger brings in a combined strength in new product and new customer acquisition through Co-Creation, Product realization and Lifecycle management.  He shared, “I am excited about the future prospect of the combined entity and believe that the merger with SGS Tekniks can help us grow our business by over 20 % y-o-y.”  

Commenting on this merger JS Gujral Founder, Chairman, SGS Tekniks said, “We are delighted to bring together these two iconic companies through this merger and create a strong platform for both domestic and international growth. We have the utmost respect for Syrma business and its employees, and greatly look forward to working together as we integrate the two companies.”

For more information: www.syrmatech.com