India-based Wipro Infrastructure Engineering (WIN) has entered into a definitive agreement to acquire Israel’s H R Givon (Givon), which manufactures metallic parts and assemblies for aerospace industry.
The all-cash deal is expected to be completed in September. The value of the contract has not yet been disclosed.
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With the acquisition, WIN aims to expand its product portfolio, widen its global footprint and bolster its ability to build deeper customer relationships in the aviation and aerospace industry.
The deal is subject to customary closing conditions and regulatory approvals.
WIN CEO Pratik Kumar said: “Givon has a strong tradition of technical expertise and enduring client relationships.
“I am confident that Wipro and Givon together will be a significant force in key markets. The synergies from our combined portfolio and locational proximity will be a key enabler to build and nurture successful customer relationships.”
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By GlobalDataGivon currently has two manufacturing plants in Israel and one in Everett, Washington, US.
The structural parts and assemblies manufactured by the company are being used to create aircraft fuselage, wings and empennage.
WIN aerospace business head Sunil Rajagopalan said: "We see cross-synergies in customer relationships, products and technology that can be leveraged to strengthen our presence in the growing aerospace sector and become a partner of choice for global OEMs and Tier-1s.”
In 2013, WIN established an aerospace actuator manufacturing facility at the Devanahalli Special Economic Zone, located near India’s Bangalore International Airport.
The company is also planning to expand its presence in various product lines and enter into technology partnerships with aerospace companies.
India is reported to be the biggest buyer of Israeli military equipment and Israel is the second largest defence supplier to India after Russia.
The business in this sector is estimated to be $10bn.
