Amber Group to acquire controlling stake in Israel-based Unitronics

Amber Group, a homegrown contract manufacturer for consumer durables and electronics, on Monday said it will acquire a controlling stake in Israel-based Unitronics, which operates in Industrial Automation and Control Systems, for over ₹400 crore in an all-cash deal.

Amber Group's subsidiary -- ILJIN Electronics India, has entered into a definitive agreement to acquire approximately 40.24% of the issued and outstanding share capital of Unitronics, according to a regulatory filing from Amber Enterprises India, which is a part of Amber Group.

It will acquire 56.24 lakh shares at NIS (new Israeli shekel) 27.75 per share, which will translate into NIS 156.08 million (approximately ₹403.78 crore).

Following the execution of shareholders' agreement and proposed acquisition, ILJIN, together with Unitronics Joint Chairman Haim Shani, will have approximately 45.13% controlling stake in Unitronics, it said.

Shani will continue to serve on the board and closely work with the Amber leadership after the deal.

"This strategic move marks a significant expansion for ILJIN, Amber's Electronic Division, as it broadens its portfolio from consumer durables, hearable and wearable, telecom, automotive, energy meters, and defence into the industrial electronics segment with global access," Amber Group Executive Chairman and CEO Jasbir Singh said.

According to the company, the deal is with a "cash consideration" and expects it to be complete "within 60 business days from the effective date".

"Driven by a shared vision, this collaboration aims to unlock powerful synergies and scale the business to new heights. By joining forces, we intend to accelerate growth, enhance capabilities, and create lasting value for all stakeholders, including our team, partners, and customers," Shani said.

Unitronics, offers a range of industrial automation products designed to meet the requirements of different applications.

While "Unitronics is set to leverage ILJIN's extensive electronic manufacturing expertise and pan-India presence to enhance operational synergies, accelerate innovation, and strengthen its product position in India," it said.

Unitronics, which had a turnover of 192.24 NIS in 2024 (around ₹497.31 crore), has a global presence, and its sales network in the US and European markets contributes 55% and 40% of its sales, respectively.

Nearly ₹7,000 crore Amber group operates in consumer durables, electronics (including EMS), and railway subsystems and defence segments, where it provides backwards-integrated and B2B solutions.

Shares of Amber Enterprises were trading at ₹7,401.95 on Monday morning, up 1.87% from its previous close on the BSE.