Syrma SGS Technology Ltd to Acquire Elcome Integrated Systems and Navicom Technology for INR 235 Crores and INR 3 Crores Respectively

Syrma SGS Technology Ltd has announced the acquisition of Elcome Integrated Systems Private Limited and Navicom Technology International Private Limited. The acquisition of Elcome will be done in four tranches, with the first tranche involving the acquisition of 60% of the total paid-up share capital for INR 235 Crores. Elcome will use the funds invested by Syrma SGS Technology Ltd to acquire Navicom. The acquisition of Navicom by Elcome will be completed on the date of completion of the first tranche of Elcome’s acquisition by Syrma SGS Technology Ltd. The acquisition is expected to be completed by 31 December 2028. The acquisition is part of Syrma SGS Technology Ltd's strategy to expand into the defence and maritime business.