Amber Group Acquires Controlling Stake in Unitronics
Amber Electronics Ltd., a producer of consumer durables, has declared the signing of final agreements to obtain a controlling interest in Unitronics (1989) (R"G) Ltd., a firm established in Israel. In a filing with the exchange, Amber announced that definitive agreements have been executed through its electronic division, ILJIN Electronics. Unitronics is a publicly traded company whose shares are listed on the Tel Aviv Stock Exchange.
A contract has been executed among ILJIN, FIMI Opportunity V, KP, and Haim Shami from Unitronics.
Amber will obtain a controlling interest of up to 40.24 percent of the issued and outstanding share capital of Unitronics, and after the acquisition, will hold a 45.13 percent stake in Unitronics alongside Haim Shami.
The ownership will be obtained for a cost of 15.6 crore Israeli New Shekel, equivalent to Rs. 404 crore (1 Israeli New Shekel = Rs. 25.89). The purchase is expected to finalize within 60 business days after the contracts are signed.
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Amber emphasized that the suggested acquisition supports the electronics division's strategy to enter industrial applications, utilizing its backward integration strengths to localize production. This action is expected to boost Amber's competitiveness in the Indian market, addressing the rising demand for Industry 4.0 solutions and granting access to markets such as the US and Europe.
Founded in August 1989, Unitronics provides various industrial automation products utilized in the design, development, and production of items such as Programmable Logic Controllers (PLCs), Human-Machine Interfaces (HMIs), PLCs combined with HMIs, SaaS offerings like UniCloud, and Industrial Internet of Things (IIoT) solutions.
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In the year 2024, Unitronics generated $57 million in revenue, achieving an EBITDA margin exceeding 30 percent, and presently holds a market capitalization of $110 million.