Optiemus Infracom to form JV with Nothing for CMF products

Optiemus Infracom Ltd announced that its Board of Directors has approved entering into a binding term sheet to establish a Joint Venture (JV) Company with Nothing Electronics Private Limited. This JV will focus on the commercialization and sale of CMF products, including mobile phones and their sub-assemblies. Optiemus will initially acquire 51.1% of the equity share capital of the proposed JV Company, subject to conditions precedent and definitive agreements. The expanded partnership also involves Optiemus joining CMF's upcoming Series A round, aiming to build India's first full-stack smartphone R&D capability and establish majority Indian shareholding. This move aligns with the Indian government's initiatives to boost electronics manufacturing and technology development.