Acquisitions9 May 2025, 12:37 pm
Kaynes Technology Acquires Canada-Based August Electronics to Strengthen North American Footprint
AI Summary
Kaynes Technology India Limited, a leading Electronics System Design & Manufacturing (ESDM) company, has signed Share Purchase agreements to acquire 100% of August Electronics Inc., a Canadian EMS provider based in Calgary, Alberta. The transaction will be executed through Kaynes’ wholly owned step-down subsidiary, Kaynes Canada Limited, and is expected to close by end of May 2025, subject to customary approvals. This strategic acquisition strengthens Kaynes’ North American footprint and supports its global expansion strategy by enhancing localized manufacturing, supply chain agility, and engineering capabilities.
Key Highlights
- Kaynes Technology India Limited to acquire 100% of August Electronics Inc., a Canadian EMS provider.
- Transaction to be executed through Kaynes’ wholly owned step-down subsidiary, Kaynes Canada Limited.
- Acquisition strengthens Kaynes’ manufacturing presence in North America and adds key segments like oil & gas, energy, telecom, and factory instrumentation.
- August Electronics has strong relationships with large customers with significant electronics demand, presenting a strong opportunity to serve these customers more comprehensively.
- Expected to close by end of May 2025, subject to customary approvals.