Tata Electronics Gets CCI Approval to Acquire Majority in Pegatron India

The Competition Commission of India (CCI) has approved Tata Electronics (TEPL) to acquire a majority stake in Pegatron Technology India, a key contract manufacturer for Apple.

TEPL, through its unit Tata Electronics Systems Solutions (formerly Wistron Infocomm Manufacturing), provides electronics manufacturing services (EMS) for smartphones. The CCI also approved the transfer of TEL Components, a fully-owned subsidiary of TEPL, to Pegatron India.

Read also -  Swiggy Launches 'Snacc': New App for 15-Minute Food Delivery

The regulator announced on X, “The Commission approves the acquisition of certain shareholding of Pegatron Technology India Pvt Ltd by Tata Electronics Pvt Ltd and the transfer of TEL Components Pvt Ltd business undertaking to Pegatron India.”

Pegatron India, a subsidiary of Pegatron Corporation, provides EMS for smartphones, including Apple devices and exports to North America, Asia, and Europe.

In November 2023, Tata Electronics purchased the iPhone unit of Taiwanese company Wistron in Bangalore for USD 125 million. 

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.