Kaynes Technology Broadens Horizons with Strategic Aerospace Investments
Kaynes Technology has announced the acquisition of stakes in three companies—Aerocaliph Components, Cryo Precision Technologies, and Tranzmeo IT Solutions. The aim is to strengthen its foothold in the aerospace manufacturing sector. These strategic investments are anticipated to enhance Kaynes' capabilities, potentially transforming India's aerospace industry landscape.
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- India
Electronics component maker Kaynes Technology has made a strategic move into the aerospace manufacturing sector by acquiring stakes in three companies: Aerocaliph Components, Cryo Precision Technologies, and Tranzmeo IT Solutions.
Tranzmeo IT Solutions, a deep-tech firm known for its technology that turns passive fiber-optic cables into an intelligent sensing network, saw an 11.13% stake acquired by Kaynes for approximately Rs 43 crore, according to a regulatory filing.
In a further push to expand its aerospace capabilities, Kaynes acquired a significant 76% stake in both Aerocaliph Components and Cryo Precision Technologies, investing Rs 60.27 lakh and Rs 7.03 lakh, respectively. The acquisitions, anticipated to finalize by September 30, aim to harness new opportunities in India's aerospace sector.
(With inputs from agencies.)
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