Consumer durables manufacturer Amber Electronics Ltd. has announced the signing of definitive agreements to acquire a controlling stake in Unitronics (1989) (R”G) Ltd., a company incorporated in Israel.In a exchange filing on Monday, July 28, Amber said that definitive agreements have been signed through its electronic division, ILJIN Electronics. Unitronics is public company with shares trading on Tel Aviv Stock Exchange.
The deal has been signed between ILJIN, FIMI Opportunity V, KP, and Haim Shami of Unitronics.
Amber will acquire up to 40.24% controlling stake of the issued and outstanding share capital of Unitronics and post the acquisition, will own a 45.13% stake in Unitronics with Haim Shami.
The stake will be acquired at a price of 15.6 crore Israeli New Shekel, amounting to ₹404 crore (1 Israeli New Shekel = ₹25.89). The acquisition is slated to be completed within 60 business days of the agreements being signed.Amber highlighted that the proposed acquisition is aligned with the strategy of its electronics division to expand into industrial applications, leveraging its backward integration capabilities to localise manufacturing. The move is likely to enhance Amber’s competitiveness in the Indian market and will cater to the growing demand for industry 4.0 solutions and provide access to markets like the US and Europe.
The deal has been signed between ILJIN, FIMI Opportunity V, KP, and Haim Shami of Unitronics.
Amber will acquire up to 40.24% controlling stake of the issued and outstanding share capital of Unitronics and post the acquisition, will own a 45.13% stake in Unitronics with Haim Shami.
The stake will be acquired at a price of 15.6 crore Israeli New Shekel, amounting to ₹404 crore (1 Israeli New Shekel = ₹25.89). The acquisition is slated to be completed within 60 business days of the agreements being signed.Amber highlighted that the proposed acquisition is aligned with the strategy of its electronics division to expand into industrial applications, leveraging its backward integration capabilities to localise manufacturing. The move is likely to enhance Amber’s competitiveness in the Indian market and will cater to the growing demand for industry 4.0 solutions and provide access to markets like the US and Europe.
Incorporated in August 1989, Unitronics offers a range of industrial automation products, used in deign, development and manufacturing of products like Programmable logic controllers (PLCs), Human-Machine Interface (HMIs), PLCs integrated with HMIs, SaaS solutions like UniCloud and Industrial Internet of Things (IIoT).
In calendar year 2024, Unitronics had a revenue of $57 million with over 30% EBITDA margin and currently has a market capitaisation of $110 million.
Shares of Amber Enterprises ended 1.4% lower on Friday at ₹7,273.5. The stock has risen 7.5% in the last one month.
