The Hindu Business Line : AT&S takes 86 pc stake in ECAD Tech

AT&S, Austrian printed circuit board (PCB) maker, has taken an 86-per cent stake in Bangalore-based ECAD Technologies, which designs, simulates and tests high-end PCBs.

The companywas funded by Karnataka Information Technology Venture Fund (KITVEN) and SIDBI Venture capital.

With the acquisition by the Austrian firm, the venture funds have exited from the company. The AT&S CEO, Dr H. Sommerer, said the company would retain the ECAD team. AT&S, which has a 30-million euro operation in Nanjagud in Karnataka, said the company was expanding in the region, especially China.

ECAD, formed by a former BEL executive, Mr S.L.N. Murthy in 1997, was funded by SIDBI Venture (Rs 2 crore) and KITVEN (Rs 1 crore) and had established customers among Indian and MNCs and had been profitable for the past three years. SIDBI and KITVEN exited for a total consideration of Rs 7.5 crore.

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