- Alpha Design Technologies will provide Adani Defense and Aerospace with a strong tier-1 capability.
- The company has not revealed any details of the deal worth so far.
The India-based Adani Enterprises is in the news for all the right reasons. The multinational conglomerate has apparently claimed that its arm, Adani Defence Systems and Technologies, has gone ahead and acquired Alpha Design Technologies Pvt Ltd., that had been established with the intention of setting the wheels of the Indian government’s ‘Make in India’ policy in motion.
The company had announced the news in a filing to the BSE (Bombay Stock Exchange). However, no details about the valuation of the supposed deal has been made public by the company so far.
The BSE filing claimed that through this acquisition, Alpha Design Technologies will provide Adani Defense and Aerospace with a strong tier-1 capability in order to build a base for graduating to platform capabilities.
For the record, Adani has been making headlines ever since the onset of 2019. According to an official press release, the company gave the go-ahead for an ambitious, first-of-its-kind, 100% renewable energy project worldwide in January 2019. Adani had reportedly inked an MoU with the Government of Andhra Pradesh to construct build Data Center Parks equipped with up to 5 GW capacities surrounding Visakhapatnam over the next two decades, thereby boosting the country’s technology infrastructure.
For the uninitiated, Alpha Design Technologies Pvt Ltd had been established in Bangalore, targeted toward the research & development, production, assembly, qualification, integration, testing, and installation of defense electronics, avionics, and space satellite systems. The company’s primary operational arenas include aero-structure assemblies, simulators, defense electronics, space and satellite systems, avionics, and more.
Reportedly, Alpha is structured to cater to both Indian and international markets. The company’s consolidated turnover in the FY 2017-18 stood at INR 218 crore, INR 210 crore in FY 2016-17 and INR 419 crore in FY 2015-16.
Source Credits: https://www.thehindubusinessline.com/companies/adani-enterprises-arm-acquires-alpha-design-technologies/article26899360.ece
