Minda Industries Limited,
flagship company of Uno Minda Group has announced acquisition of Germany based
iSYS RTS GmbH, a leading developer of embedded systems and software to global
vehicle manufacturers. The agreement, which is subject to customary closing
conditions and regulatory approvals, is expected to be completed by second
quarter of FY18-19.
Headquartered in Munich,
Germany, iSYS RTS develops embedded systems as well as hardware and software
components for Global OEM’s. The company 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
This acquisition will provide
iSYS RTS the necessary capital infusion to fuel its growth and also provide the
solid backing of a large Tier1 like Minda Industries and enable it to take on
larger programs and expand its product and customer base. iSYS 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 centre’s globally.
“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 of iSYS
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. iSYS RTS will
remain dedicated to serving and growing its target markets including automotive
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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