Hero Electronix buys Indian biz of TES DST Holding
The Dollar Business Bureau
Hero group's electronics arm, Hero Electronix, acquired TES DST Holding Europe's Indian venture. This marks Hero’s entry in designing and manufacturing of avionic and automotive products.
The company revealed that they acquired the German-based TES DST’s Indian business through Tessolve Semiconductor, an Indian company in which Hero Electonix owns strategic stake.
With the partnership with TES DST, Hero Electronix has the expertise to offer advanced and sophisticated technological products comprising hardware and software development for avionics, automotive, industrial, transportation and home automation domains, said Ujjwal Munjal, Founder-Director of Hero Electronix.
Munjal did not give out the details of the transaction involved in the acquisition. However, he said that the acquisition was part of the planned investment of 1,000 to 1,200 crore in next 5-7 years earmarked for expansion.
The addition of TES DST is in line with Hero Group’s approach of investing in IP driven and engineering-oriented businesses, he added.
The main focus of the new division, Tessolve Embedded System, will be to design and make innovative electronic products for global firms. Tessolve will bring together the comprehensive capabilities in system design, chip design and embedded software that are existing in Hero Electronix.
In future, the division will emerge as a lab for IoT companies across India. The lab will aim to offer comprehensive product development life cycle solution, working from idea conceptualization to development and production.
The acquisition of TES DST is also a step towards making Hero Electronix a $1 billion worth company offering global digital products and solutions.
The addition has extended Tessolve’s potential from chip designing to development of digital systems.