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Our Bureau

Mr Tushar Dave, Chairman, Emuzed

Bangalore , Nov. 9

ELECTRONICS Manufacturing Services (EMS) giant Flextronics is acquiring multimedia technology solutions provider Emuzed Inc that has its research and development centres in Bangalore and Chennai.

Mr Tushar Dave, Chairman of Emuzed, said on Tuesday that the company had entered into an agreement in this regard with Flextronics, but declined to reveal the transaction details. However, sources close to the deal said the acquisition cost was pegged at $38 million.

"The deal is expected to be completed in four to six weeks," Mr Dave added.

``Partnering with Flextronics, a global leader in mobile manufacturing, along with an established design services group, is a perfect combination for us and a tremendous value add for our customers,'' he said.

Emuzed provides multimedia technology to original equipment manufacturers of personal computers, mobile handsets, consumer electronics, security and surveillance systems. The company has about 200 people in Bangalore and 25 in Chennai development centres.

Eight of the top 10 mobile handset brands including Nokia, Samsung and Siemens among others are customers of Emuzed and use the latest multimedia technology developed by the company.

According to the President of Flextronics Design Services and ODM Products Group, Mr Ash Bhardwaj, the company would seek to add the convergence technologies capabilities of Emuzed into its ``software services offering to strengthen its existing offering to customers''.

Privately held Emuzed was founded in 2001 by a team of industry veterans, serial entrepreneurs and technology experts from the multimedia technology industry. The company has raised about $5 million, mainly from individual investors including Mr Dave.

More Stories on : Mergers & Acquisitions | Electronics

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