CCI Approves Tata Electronics-Wistron Deal By CIOTechOutlook Team

CCI Approves Tata Electronics-Wistron Deal

CIOTechOutlook Team | Wednesday, 24 January 2024, 03:49 IST

CCI green lights Tata Electronics and; Acquisition of iPhone supplier Wistron Infocomm. The Competition Commission of India (CCI) has approved the deal between Tata Electronics and Wistron. The proposed merger involves the acquisition of 100 percent share capital of Wistron Infocomm Manufacturing (India) Private Limited by Tata Electronics Private Limited.

The equity shares will be acquired from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited, as per economic times.

"The proposed combination relates to the acquisition of 100% of the Wistron Infocomm Manufacturing (India) Private Limited’s (Target) equity share capital from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited by Tata Electronics Private Limited (Acquirer). The Acquirer is a greenfield venture of Tata Sons Private Limited. It manufactures smartphone enclosures (i.e. the frame of the phone on which other components/subassembles of a smartphone are assembled), a high precision component for smartphones," said CCI.

"The Target is an electrical and electronics manufacturing company engaged in electronic manufacturing services (i.e., contract manufacturing of electronics) for smartphones in India, at its plant in Karnataka. It was incorporated in 2017 by the Wistron group," it further added.

Wistron Corporation is a Taiwanese electronics manufacturer. It was Acer Inc. production unit before it was spun off in 2000. As an original design manufacturer, the company designs and manufactures products for other companies to sell under its own brand. Wistron's products include laptop and desktop computers, servers, storage media, LCD televisions, portable devices, and devices and equipment for medical applications.