Jabil completes $ 185 million acquisition of Celetronix

MUMBAI: Jabil Circuit, Inc. has acquired Celetronix, a leading electronic manufacturing services (EMS) company in India, for around $185 million, including debt.

The purchase price consists of around $155 million in cash plus the assumption of $30 million in debt. The acquisition process was completed on 31 March, a source said.

Celetronix offers services from design and prototyping and is the strategic partner used by many of the world's recognised brands in set-top satellite decoders, computers, home electronics, networking and server appliances. The company, for instance, does work for direct-to-home (DTH) service provider EchoStar in the US.

Jabil, a premier EMS company in the world, will be able to get access to low-cost manufacturing from India while targeting new markets and customers. Also, its manufacturing footprint will expand in India. Jabil currently manufactures in 176,000 square feet in Ranjangaon, India. Celetronix has manufacturing facilities in Mumbai, Chennai and Pondicherry.

Indiantelevision.com e-mailed a set of questions to the company on the acquisition details and its expansion plans. But Celetronix officials in Mumbai declined to comment.

Celetronix, founded by the Tandon family, has low-cost manufacturing facilities in India and delivers through its worldwide locations including India, US, Malaysia, Singapore and Sri Lanka.

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