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ASM Technologies' board has approved acquiring a 51% stake in Asmaitha Wireless Technologies Private Ltd for Rs. 79.57 crore in cash. Asmaitha is a 16-year-old engineering firm specialising in embedded systems, wireless technology, IoT modules, and medical wearables, with a small turnover of Rs. 3.67 crore in FY25 (down from Rs. 14.78 crore in FY23). The deal is aimed at strengthening ASM's capabilities in design-led manufacturing, firmware, and wireless domains, particularly in telecom infrastructure and IoT. The Share Purchase Agreement is expected within 90 days, with the full investment spread over five years. The acquisition is not a related-party transaction and requires no government approvals.
This is a significant strategic acquisition for ASM Technologies given the Rs. 79.57 crore outlay against the target's modest and declining revenue base, suggesting ASM is paying primarily for technology and capability rather than current earnings. Shareholders should monitor execution timelines and integration progress, as the real value will depend on how Asmaitha's wireless and IoT capabilities translate into new revenue streams for ASM over the next few years.