The electronics manufacturing business from Tata Group, Tata Electronics today announced the acquisition of a controlling 60 per cent stake in Pegatron Technology India Private Limited (“PTI”). The financial details of the deal were not available, but this will allow the company to expand its local iPhone manufacturing.
This follows Tata Electronics’ acquisition of Wistron’s India operations in March 2024.
As part of this deal, in addition to acquiring a majority stake in PTI, TEPL and PTI will work on integrating their teams to work seamlessly. PTI will undergo rebranding to reflect its new ownership structure and business direction while continuing to deliver high-quality electronics manufacturing services. This acquisition solidifies TEPL’s position as a key player in the Indian electronics manufacturing sector.
Randhir Thakur, CEO & MD of Tata Electronics, said, “The acquisition of a majority stake in Pegatron Technology India Private Limited fits into Tata Electronics’ strategy of growing our manufacturing footprint. We look forward to a new era of AI, digital, and technology-led manufacturing as we bring up these new facilities and expand our operations in India.”
Pegatron India is the subsidiary of Taiwanese company Pegatron Corporation, which provided contract-based electronic manufacturing services to companies such as Apple.
The announcement is coming after the Competition Commission of India (CCI) gave an approval to Tata Electronics to acquire the majority stake in the company.
Other than Pegatron and Wistron, Tata Electronics is also building another plant in Hosur in Tamil Nadu.
This will allow the company to expand its iPhone manufacturing in India.
Source: Business Standard