Tata Electronics Private Limited (TEPL) on Friday said it has acquired a controlling 60 per cent stake in Pegatron Technology India Private Limited (PTI) that operates an iPhone plant, near Chennai
The purchase comes after TEPL’s acquisition of Wistron’s India operations at Narsapura, Karnataka less than a year ago in March.
The deal with the Taiwanese contract manufacturer is expected to ramp up Tatas’ presence in electronics manufacturing and supply to Apple.
``PTI will undergo rebranding to reflect its new ownership structure and business direction while continuing to deliver high-quality electronics manufacturing services,” TEPL said.
“This acquisition solidifies TEPL’s position as a key player in the Indian electronics manufacturing sector.’’ TEPL is an arm of Tata Sons, the principal holding company of the Tata group.
“The acquisition of a majority stake in Pegatron Technology India Private Limited fits into Tata Electronics’ strategy of growing our manufacturing footprint,” Randhir Thakur, CEO & MD of Tata Electronics, said.
“We look forward to a new era of AI, digital and technology-led manufacturing as we bring up these new facilities and expand our operations in India.’’
Financial details of the deal were not disclosed.Earlier reports had indicated that while the Tatas will hold 60 per cent in PTI, the rest will be held by Pegatron and that it will provide technical support.
Apple has been looking to diversify its supply base beyond China amid tensions with the US.
The Tata group also has a plant at Hosur, Tamil Nadu which produces components for Apple’s iPhones.
Tata Electronics has capabilities in electronics manufacturing services, semiconductor assembly & test, semiconductor foundry and design services.
Established in 2020 as a greenfield venture of the Tata Group, the company serves global customers through integrated offerings across electronics and semiconductor value chains.
It currently employs over 50,000 people with operations in Gujarat, Assam, Tamil Nadu and Karnataka.
Tata Sons
Tata Sons, promoter of Tata Group, has sought approval from CCI for acquiring an additional 10 per cent stake in DTH operator Tata Play from Singapore’s sovereign wealth fund Temasek Holdings.
Tata Sons owns a 60 per cent stake in Tata Play. After the completion of the deal, its will have a 70 per cent holding in the entertainment content distribution platform.