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Adani Enterprises Ltd on Thursday announced acquisition of aerospace and defence player Alpha Design Technologies Pvt Ltd for ₹400 crore in an all-cash deal.
The acquisition strengthens Adani’s positioning in the defence sector. Alpha Design Technologies provides Adani Defence and Aerospace a strong tier-1 capabilities for building a base for graduating to platform capabilities.
Established in 2003, ADTPL is in the business of defence electronics, avionics, aero-structure assemblies, space and satellite systems and simulators among others. The company has posted consolidated turnover of ₹218 crore for 2017-18, Adani informed in a statement on the stock exchanges on Thursday.
Its key customers include global OEMs, defence PSUs and research establishments such as DRDO besides Indian Armed forces and ISRO.
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