NEW DELHI: Centum ElectronicsBSE -1.86 %today said it has completed the acquisition of controlling stake in France’s Adetel group.
“The company has completed the activities with respect to the acquisition of the French Adetel Group SA,” Centum Electronics said in a BSE filing.
Last month, Centum Electronics announced the acquisition of controlling stake in France’s Adetel group.
“Centum Electronics will hold 51 per cent controlling stake in Adetel group, with an option to increase it further at a future date. This acquisition will help us consolidate and grow in these geographies where Adetel operates,” Centum Electronics Chairman and MD Apparao Mallavarapu told PTI.
The company, however, did not disclose the size of the deal.
“We can now accelerate growth, fill product portfolio gaps, improve our market position, benefit from the use of even more advanced technology and of course, establish a wider, more international presence,” he added.
Both the companies offer services in defence, aerospace and communications.
