With increasing electronic content in automotives, Minda Industries has identified electronic control modules as one of the major product line for growth and expansion
Gurugram; July 17, 2018
Minda Industries Limited, the flagship company of Uno Minda Group, has acquired the Germany-based iSYS RTS GmbH, a leading developer of embedded systems and software to global vehicle manufacturers. The agreement is expected to be completed by second quarter of FY18.
Headquartered in Munich, iSYS RTS offers engineering services and also manufacturers automotive electronic control units (ECUs). Areas of specialisation of iSYS RTS include ECUs for automotive body and comfort systems, Autosar ECUs, ECUs and software components for automotive lighting, interior lighting systems, electrical drive ECUs and development of HMI and infotainment applications.
With increasing electronic content per vehicle in the areas of body and comfort, automotive lighting and cockpit electronics, Minda Industries has identified electronic control modules as one of the major product line for growth and expansion. This acquisition provides Minda Industries access to iSYS RTS’s technology and global customers. This will help Minda Industries expand its ECU offering and technology solutions in India and global markets.
This acquisition will provide iSVS RTS the necessary capital infusion to fuel its growth and also provide the solid backing of a large tier I like Minda Industries and enable it to take on larger programs and expand its product and customer base. ISVS RTS will also benefit from a solid manufacturing footprint of Minda Industries Ltd in an emerging country like India and also have access to Minda’s engineering centres.
“As part of the Uno Minda Group and with access to the company’s resources we can exploit our synergies beyond our core competencies. The synergies are expected to play out as we develop system solutions for automotive OEM’s,” said Georg Hutter, CEO, iSVS RTS GmbH.
Upon close of the transaction, iSYS RTS will become subsidiary of Minda Industries Ltd and operate as an independent unit led by its existing management team, while benefiting from Minda Industries scale.
N K Minda, Chairman of Uno Minda Group, said, “iSYS RTS will be at the core of our controller business strategy, as we seek to improve footprints with customers in India and Europe. In addition, it will also help MIL offer high end cockpit electronics with premiumisation of vehicles.”
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