Cyient DLM acquires US-based EMS manufacturer Altek Electronics

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Cyient DLM acquires US-based EMS manufacturer Altek Electronics

Cyient DLM acquires US-based EMS manufacturer Altek Electronics

Industry News
Oct 07,24

Altek Electronics, with its strong footprint in the Medical & Healthcare and Industrial sectors, strengthens Cyient DLM’s capability in these sectors and adds a diverse customer base to Cyient DLM.

Cyient DLM acquires US-based EMS manufacturer Altek Electronics

Cyient DLM, a leading integrated electronics manufacturing company, acquired Altek Electronics, a prominent EMS (Electronic Manufacturing Services) company based in the United States. This move marks a significant milestone in Cyient DLM's growth plan, expanding its presence in the North American market and strengthening its capabilities across key sectors.

Altek Electronics, with its strong footprint in the Medical & Healthcare and Industrial sectors, strengthens Cyient DLM’s capability in these sectors and adds a diverse customer base to Cyient DLM. The acquisition adds a number of Fortune 500 clients to Cyient DLM's portfolio and strategic engagements with multiple other key clients. Additionally, Altek Electronics, with its ITAR certification, positions Cyient DLM well to address the growing US Defense market. Through this acquisition Cyient DLM will also significantly expand its manufacturing capacity adding additional 80,000 sft of manufacturing area to cater to its clients globally.

This acquisition is in line with Cyient DLM’s strategic roadmap to expand geographic footprint, add strategic clients and increase client proximity.

Krishna Bodanapu, Executive Chairman, Cyient DLM, commented, "This acquisition is a pivotal moment for Cyient DLM. It expands our global footprint, brings us closer to our strategic customers, and significantly strengthens our capabilities. With this acquisition, Cyient DLM is not only broadening its reach into the Medical & Healthcare and Industrial sectors but also bolstering its capabilities for the Defense sector through ITAR compliance. Altek Electronics’ proven track record with key industry leading clients will accelerate Cyient DLM's ability to deliver high-performance, reliable services across these sectors.

Anthony Montalbano, CEO, Cyient DLM, added, "This acquisition is more than just an expansion, it is an important milestone for Cyient DLM. With the addition of Altek Electronics' expertise, we are enhancing our manufacturing capability & capacity, and strengthening our competitive position in the North American market. This allows us to continue offering world-class services that meet the evolving needs of our customers."

David Altschuler, CEO, Altek Electronics, mentioned, "Joining forces with Cyient DLM opens new avenues for us to scale our operations and leverage their global resources and industry expertise. As we enter this new chapter, we remain committed to upholding the values that have defined our success and look forward to leveraging expanded resources and capabilities to better serve our customers, suppliers, and stakeholders."

This acquisition highlights Cyient DLM's commitment to expanding its global footprint, diversifying its customer base, and positioning itself as a leader in the EMS sector for highly regulated and safety-critical industries. This move sets the stage for Cyient DLM's next phase of growth, ensuring long-term success and greater value for its customers worldwide.