The acquisition of the Connecticut-based EMS provider expands Cyient’s global footprint and strengthens its capabilities across key sectors.
HYDERABAD, India, and TORRINGTON, Conn.—Global electronics manufacturing company Cyient DLM has acquired Altek Electronics, a prominent electronic manufacturing services (EMS) company based in the United States, according to a release from Cyient DLM. The acquisition is reported to mark a significant milestone in Cyient DLM’s growth plan, expanding its presence in the North American market and strengthening its capabilities across key sectors.
Cyient DLM stated in the release that Altek Electronics, with its strong footprint in the medical/healthcare and industrial sectors, strengthens Cyient DLM’s capability in these sectors and adds a diverse customer base. The acquisition adds multiple Fortune 500 clients to Cyient DLM’s portfolio and strategic engagements with other key clients, the company said.
With its ITAR certification, Altek Electronics positions Cyient DLM well to address the growing U.S. defense market. Through the acquisition, Cyient DLM will also significantly expand its manufacturing capacity, adding 80,000 square feet of manufacturing space to cater to its clients globally.
According to Cyient DLM, the acquisition is in line with the company’s strategic roadmap to expand geographic footprint, add strategic clients, and increase client proximity.
“This acquisition is a pivotal moment for Cyient DLM. It expands our global footprint, brings us closer to our strategic customers, and significantly strengthens our capabilities,” said Cyient DLM Executive Chairman Krishna Bodanapu, in the release. “With this acquisition, Cyient DLM is not only broadening its reach into the medical and healthcare and industrial sectors, but also bolstering its capabilities for the defense sector through ITAR compliance. Altek Electronics’ proven track record with key industry leading clients will accelerate Cyient DLM’s ability to deliver high-performance, reliable services across these sectors.”
Anthony Montalbano, CEO of Cyient DLM, said that the acquisition “is more than just an expansion, it is an important milestone for Cyient DLM.”
“With the addition of Altek Electronics’ expertise, we are enhancing our manufacturing capability and capacity and strengthening our competitive position in the North American market,” he said in the release. “This allows us to continue offering world-class services that meet the evolving needs of our customers.”
“Joining forces with Cyient DLM opens new avenues for us to scale our operations and leverage their global resources and industry expertise,” said David Altschuler, CEO of Altek Electronics, in the release. “As we enter this new chapter, we remain committed to upholding the values that have defined our success and look forward to leveraging expanded resources and capabilities to better serve our customers, suppliers, and stakeholders.”
The acquisition is said to highlight Cyient DLM’s commitment to expanding its global footprint, diversifying its customer base, and positioning itself as a leader in the EMS sector for highly regulated and safety-critical industries. It also “sets the stage for Cyient DLM’s next phase of growth, ensuring long-term success and greater value for its customers worldwide,” the company said.
Cyient DLM describes itself as an integrated provider of electronics manufacturing solutions that offers Design Led Manufacturing (DLM) across the entire product lifecycle. Focusing on safety-critical electronics in highly regulated industries, Cyient DLM said it provides design, manufacturing, testing, and certification support “to ensure the highest standards of reliability, safety, and performance.” The company serves customers in diverse sectors, including aerospace and defense, industrial, and medical and healthcare, with “a commitment to driving innovation and value-driven solutions.”
Altek Electronics, an electronics contract manufacturing services provider based in Torrington, Connecticut, specializes in high-mix, low-to-medium volume PCB assemblies. According to Cyient DLM, Altek “has built a reputation for delivering exceptional quality, reliability, and customer service.” The company’s expertise in engineering support, quick turn prototypes, and full-scale production has enabled Altek to serve a diverse range of industries, including medical, industrial, aerospace, and defense.