Dixon Technologies to acquire majority stake in Ismartu India

Indian electronics manufacturing services company Dixon Technologies has entered into a share purchase agreement with Ismartu Singapore to acquire a 50.10% stake in Ismartu India, a subsidiary of Transsion Technology Limited.

The company would also make further acquisitions in tranches in Ismartu. 

Dixon said the consummation of the transaction as per the definitive agreement would be subject to the approval of the Competition Commission of India (‘CCI’) and other customary closing conditions. 

What does Ismartu do?

Ismartu is engaged in electronics and mobile device manufacturing, with three state-of-the-art manufacturing facilities in Noida under the brand names Itel, Infinix, and Tecno. It is one of the market leaders in the smartphone and feature phone categories in India.

Leadership comments

“This acquisition is a momentous milestone for us, solidifying our positioning for sustained success and continued leadership in the mobile phones manufacturing industry in India. The “ISMARTU” team brings a wealth of experience and knowledge to the table, and we are excited to work together to create a stronger, more diversified, and future-proof organization," said Atul B. Lall, Vice Chairman & Managing Director.

He said the combined expertise, resources, engineering prowess, and other manufacturing capabilities of both companies will further capitalize on growth opportunities in the burgeoning Indian EMS industry.