Cyient DLM Acquires Altek Electronics to Strengthen North American Market Presence

Cyient DLM, a leading player in the Electronic Manufacturing Services (EMS) industry, has announced the acquisition of Altek Electronics, a well-established EMS company based in the United States. This acquisition marks a crucial milestone in Cyient DLM’s strategic growth plan, enhancing its market position in North America and bolstering its capabilities across the Medical & Healthcare, Industrial, and Defense sectors.

Altek Electronics brings to Cyient DLM a strong presence in the Medical & Healthcare and Industrial sectors. This acquisition significantly diversifies Cyient DLM’s customer base by adding multiple Fortune 500 companies and strategic engagements with other key clients to its portfolio. Furthermore, Altek’s long-standing industry expertise and proven track record will be instrumental in helping Cyient DLM deliver high-performance, reliable services to its expanding client base. The acquisition also boosts Cyient DLM’s ability to cater to the growing demand in the US Defense sector, with Altek’s ITAR (International Traffic in Arms Regulations) certification positioning the company favourably to meet the needs of defence clients.

One of the most impactful benefits of this acquisition is the expansion of Cyient DLM’s manufacturing capacity. With Altek Electronics’ inclusion, Cyient DLM will add 80,000 square feet of manufacturing space, significantly increasing its production capabilities. This increased capacity will allow Cyient DLM to meet the demands of its growing customer base and strengthen its competitive position in the North American market.

Krishna Bodanapu, Executive Chairman of Cyient DLM, emphasised the importance of this acquisition, stating, “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.” He further highlighted the enhanced capabilities for the Defense sector due to ITAR compliance, positioning Cyient DLM to deliver services across highly regulated industries.

Anthony Montalbano, CEO of Cyient DLM, also expressed enthusiasm about the acquisition, noting, “This 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 & capacity, and strengthening our competitive position in the North American market. This allows us to continue offering world-class services that meet the evolving needs of our customers.”

David Altschuler, CEO of Altek Electronics, echoed these sentiments, adding, “Joining forces with Cyient DLM opens new avenues for us to scale our operations and leverage their global resources and industry expertise. 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.”

This acquisition reflects Cyient DLM’s commitment to growing its global footprint, diversifying its clientele, and becoming a leader in EMS for safety-critical and highly regulated industries. With this move, Cyient DLM is set for its next phase of growth, ensuring long-term success and greater value for its customers worldwide.

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