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Auto components manufacturer, Minda Industries Ltd (MIL), a flagship company of the Uno Minda Group, on Monday said it is acquiring Germany-based iSYS RTS GmbH, a leading developer of embedded systems and software for global vehicle manufacturers.
The agreement, which is subject to the customary closing conditions and regulatory approvals, is expected to be completed by the second quarter of fiscal year 2018-19, the company said in a statement.
Headquartered in Munich, Germany, iSYS RTS develops embedded systems as well as hardware and software components for global original equipment manufacturers. The company offers engineering services and also manufacturers automotive electronic control units (ECUs).
The areas of specialisation of iSYS RTS include ECUs for automotive body and comfort systems, and software components for automotive lighting, interior lighting systems, electrical drive ECUs and development of infotainment applications.
“iSYS RTS will be at the core of our controller business strategy, as we seek to improve our footprint in India and Europe. In addition, it will also help MIL offer high-end cockpit electronics with premiumisation of vehicles,” N K Minda, Chairman of Uno Minda Group, said.
The companies did not share the deal price details and said upon closure of the transaction, iSYS RTS will become a subsidiary of MIL and operate as an independent unit led by its existing management team, while benefiting from Minda Industries’ scale.
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