The renowned American EMS (Electronic Manufacturing Services) company Altek Electronics was acquired by Cyient DLM. According to its official release, in terms of Cyient DLM’s expansion plan, this calculated decision represents a major turning point as it increases the company’s market share in North America EMS Market and fortifies its position in important industries and sectors.
With its substantial presence in the industrial, medical, and healthcare industries, the acquired Altek Electronics expands Cyient DLM’s customer base and enhances its competence in these areas.
Cyient DLM’s portfolio now includes several Fortune 500 clients in addition to strategic engagements with multiple other important clients as a result of the acquisition, stated its official release.
Furthermore, Altek Electronics places Cyient DLM in a strong position to take advantage of the expanding US Defense sector with its ITAR certification. In order to better serve its clients in the tEMS market throughout the world, Cyient DLM will also greatly increase its manufacturing capacity through this acquisition, adding an extra 80,000 square feet of manufacturing space.
The strategy roadmap of Cyient DLM, which calls for increasing client proximity, adding important clients, and broadening its geographic reach, aligns with this purchase.
With this acquisition, Cyient DLM is demonstrating its dedication to growing its customer base, diversifying its global reach, and establishing itself as a pioneer in the EMS market for highly regulated and safety-critical sectors.
This action ensures long-term success and increased value for Cyient DLM’s clients globally and paves the way for the company’s next stage of expansion.
Key Comments
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.”
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