Optiemus Infracom to form JV with Nothing for CMF products
Optiemus Infracom Ltd announced that its Board of Directors has approved expanding its partnership with Nothing Electronics Private Limited by entering into a binding term sheet to establish a Joint Venture (JV) company. 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 JV's equity. The expanded partnership also includes Optiemus joining CMF's upcoming Series A round, aiming to build India's first full-stack smartphone R&D capability and establish a majority Indian-owned brand. This move aligns with India's 'Make in India' initiative and aims to leverage India's engineering talent for global product development.
Key Highlights
- Optiemus Infracom and Nothing to form a Joint Venture for CMF product commercialization.
- Optiemus to initially acquire 51.1% equity in the proposed JV company.
- Partnership aims to establish India's first full-stack smartphone R&D capability.
- Optiemus will also invest in CMF's upcoming Series A funding round.
- JV will focus on mobile phones and their sub-assemblies/components.
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