Optiemus Infracom completes acquisition of shares in Optiemus Electronics from Wistron
Apr 16, 2021
New Delhi [India], April 16 (ANI/NewsVoir): Optiemus Infracom Limited, leading telecommunications enterprise today announced the completion of the acquisition of 27,60,000 (Twenty Seven Lakh Sixty Thousand) Equity shares (19.91 per cent of the total share capital) of Optiemus Electronics Limited, Subsidiary and Joint Venture Company, by way of transfer from Wistron Corporation.
Optiemus Infracom Limited already holds 80.09 per cent of the total equity share capital of Optiemus Electronics Limited. Earlier on December 18th, 2020, the Board of Directors of the Company considered and approved the decision to strengthen ownership and control. After the acquisition (19.91 per cent), OEL has become Wholly Owned Subsidiary of Optiemus Infracom Limited.
Also, after acquiring remaining shares, the Joint Venture Agreement, entered into by the Company with Wistron Corporation has also been ceased to be effective.
"This acquisition is aimed to drive value creation for all the stakeholders by strengthening the ownership and work towards enhancing the brand image of Optiemus. It will also help us in foraying into new business verticals besides building up the existing business verticals. This will result in to mitigation of associated business risk and achievement of greater financial flexibility and earnings," said Ashok Kumar Gupta, Chairman, Optiemus Infracom, on completion of the acquisition.
Optiemus Electronics Limited ('OEL') is engaged into the business of manufacturing of telecom products in India. It provides a complete end-to-end solution to global and Indian brands encompassing world class manufacturing infrastructure, distribution, retail and after sales. The current manufacturing facility of Optiemus Electronics is located in Sector 63, Noida, Uttar Pradesh.
With sizeable investments lined up, OEL aimed to further enhance its manufacturing and design capabilities. OEL has managed to win the trust of many local as well as global brands, due to its commitment towards Quality, Timely Delivery, Flexibility as well as Customer Satisfaction.
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