NEW DELHI, AUG 30: An India’s electronic company, Hero Electronix, has taken over Spectrum Integrated Technologies Sdn Bhd, Malaysia, in a Southeast Asian expansion plan.
Spectrum, a printed circuit-board manufacturer with facilities in Johore has 100 workers.
The takeover was done through Tessolve Semiconductor Pvt Ltd, a semi-conductor design and testing company based in Bangalore.
Tessolve who already owns a design and testing facility in Penang, with 70 workers, did not state the payment made for the takeover.
Hero also bought a Singaporean firm, Lynxemi Pte Ltd which is involved in semi-conductor laboratory testing business.
The takeover helps Tessolve to shift from a semi-conductor testing engineering to a comprehensive solution provider, said Hero Electronix based in New Delhi, which is a part of the Hero Group, the biggest motorcycle manufacturer in India.
“The aim from this takeover is to fill the gap that will help us provide a total solution to our customers covering engineering expertise and strategic infrastructure,” said Tessolve Chief Executive, P Raja Manickam.
SOURCE: BERNAMA
