The Competition Commission of India (CCI) has approved the acquisition of up to 56% shareholding of Ismartu India Private Limited (Target) by Dixon Technologies (India) Limited (Acquirer).
The Acquirer (through various subsidiaries and joint ventures in India) is involved in the business of providing Engineering and Manufacturing Services (EMS). Acquirer’s product line includes EMS for communication devices like mobile phones as well as other communication devices such as laptops, tablets. In addition to communication devices, the Acquirer also provides EMS for lighting solutions, television, washing machines, security systems, wearables and hearables etc.
The Target is the Indian subsidiary of Ismartu Ind. Pte. Limited. The Target is involved in the business of providing EMS, in relation to the manufacturing mobile phones, Printed Circuit Board Assembly, LCD Module display and other ancillary services for mobile phones. The Target is engaged in production, assembly, testing, procurement, failure analysis, etc. in relation to its business.
