Cyient DLM, an integrated electronics manufacturing company, announced its acquisition of Altek Electronics, an EMS (Electronic Manufacturing Services) company based in the United States.
This strategic move marks a significant milestone in Cyient DLM’s growth plan, expanding its presence in the North American market and strengthening its capabilities across key sectors.
Altek Electronics, with its strong footprint in the Medical & Healthcare and Industrial sectors, strengthens Cyient DLM’s capability in these sectors and adds a diverse customer base to Cyient DLM. The acquisition adds a number of Fortune 500 clients to Cyient DLM’s portfolio and strategic engagements with multiple other key clients.
Additionally, Altek Electronics, with its ITAR certification, positions Cyient DLM well to address the growing US Defense market. Through this acquisition, Cyient DLM will also significantly expand its manufacturing capacity adding an additional 80,000 sq. ft of manufacturing area to cater to its clients globally.
Krishna Bodanapu, Executive Chairman of Cyient DLM, commented, “This acquisition is a pivotal moment for Cyient DLM. It expands our global footprint, brings us closer to our strategic customers, and significantly strengthens our capabilities. With this acquisition, Cyient DLM is not only broadening its reach into the Medical & Healthcare and Industrial sectors but also bolstering its capabilities for the Defense sector through ITAR compliance. Altek Electronics’ proven track record with key industry-leading clients will accelerate Cyient DLM’s ability to deliver high-performance, reliable services across these sectors.”
Anthony Montalbano, CEO of Cyient DLM, added, “This acquisition is more than just an expansion, it is an important milestone for Cyient DLM. With the addition of Altek Electronics’ expertise, we are enhancing our manufacturing capability & capacity, and strengthening our competitive position in the North American market. This allows us to continue offering world-class services that meet the evolving needs of our customers.”
David Altschuler, CEO of Altek Electronics, mentioned, “Joining forces with Cyient DLM opens new avenues for us to scale our operations and leverage their global resources and industry expertise. As we enter this new chapter, we remain committed to upholding the values that have defined our success and look forward to leveraging expanded resources and capabilities to better serve our customers, suppliers, and stakeholders.”
