Tuesday, June 11, 2013: The American manufacturing firm, Tyco has passed on its Indian arm to the NeST Group in an acquisition made yesterday. The Tyco Indian tool room is located at Kerala, precisely Cochin SEZ as was revealed to TOI journalists. The financial details of the deal also remain in the dark but it is estimated that with the up-gradation cost of Rs 60-70 crore, the total investment that NeST would have made in the tool room will be somewhere close to Rs 150 crore. We should have details soon though. N. Jahangir, NeST MD says that this acquisition will help the demands for fixtures and tools for SFO Technologies, which provides manufacturing products to the aerospace industry and makes military hardware.
Tyco Electronics will now be known as TE Connectivity will be associated with manufacturing and designing high-end engineering solutions concerned with power and data. It has been serving a range of industries all over the globe and includes more than 150 countries. The industries include consumer electronics, automotive, medical, energy and aerospace among others. The NeST group has its headquarters in Kochi with several software and hardware facilities spread across in Kochi, Bengaluru, Thiruvananthapuram, Mysore and the U.S.
Other related news include Wipro’s $5 million investment in Axeda, a U.S. based software solution service provider and Blue Star InfoTech’s investment for Activecubes Solutions India Pvt. Ltd. This is an international firm concerned with decision management. This acquisition was made for an undisclosed amount.
