Tata Electronics acquires 60% stake in Pegatron India
Tata Electronics’ acquisition of Pegatron India will expand its capability of manufacturing Apple iPhones.
Tata Electronics Private Limited (TEPL), one of the leading electronics manufacturing services companies, has acquired a 60% stake in Pegatron Technology India Private Limited (PTI).
This development follows TEPL’s acquisition of Wistron India operations which has got its plant in Karnataka in March 2024.
The acquisition value of Pegatron India was not disclosed but this provides a significant boost to Tata Electronics’ expansion plans. Pegatron India is the subsidiary of Taiwan headquartered Pegatron which is one of the manufacturers of Apple iPhones.
Pegatron has a plant in Tamil Nadu and Tata Electronics began the assembly of iPhone in India last year.
Commenting on the transaction, Tata Electronics CEO Randhir Thakur said, “The acquisition of a majority stake in Pegatron Technology India Private Limited fits into Tata Electronics’ strategy of growing our manufacturing footprint. We look forward to a new era of AI, digital, and technology-led manufacturing as we bring up these new facilities and expand our operations in India."
As part of this deal, in addition to acquiring a majority stake in PTI, TEPL and PTI will work on integrating their teams. PTI will undergo rebranding to reflect its new ownership structure and business direction while continuing to deliver electronics manufacturing services.
This acquisition solidifies TEPL’s position as a key player in the Indian electronics manufacturing sector, the statement from the company said.
Established in 2020, Tata Electronics has capabilities in the areas of electronics manufacturing services, semiconductor assembly & test, semiconductor foundry, and design services. The company employs over 50,000 people across Gujarat, Assam, Tamil Nadu, and Karnataka.
Edited by Jyoti Narayan