Belding India acquires 100% stake in Evolve IT Solutions
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Belding India Limited (formerly Synthiko Foils) has acquired 100% equity stake in Evolve IT Solutions Private Limited, a Pune-based firm specializing in X-ray security screening technologies. Evolve manufactures baggage scanners, cargo and vehicle inspection systems, dual-view X-ray units and intelligent screening solutions from its owned facility at MIDC Bhosari. The deal marks Belding's entry into the security screening and critical infrastructure protection sector, complementing its existing businesses in Battery Energy Storage Systems, Modular Data Centers, Edge Computing and Defence Technologies. Deal value and financial terms were not disclosed.
Diversification into security tech and advanced manufacturing. Deal value not disclosed, so revenue and margin impact remain unclear. Watch for further updates.