Kaynes Technology India Limited has informed the Exchange regarding a press release dated May 09, 2025, titled "Press Release on Execution of Share Purchase Agreement for acquisition of August Electronics Inc. (Canada based Company).".
KAYNES · price
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Awaiting price reaction for this filing.
Kaynes Technology India Limited has signed a Share Purchase Agreement to acquire 100% of August Electronics Inc., a Calgary-based Electronics Manufacturing Services (EMS) provider with over 30 years of experience. The acquisition will be executed through Kaynes Canada Limited, a step-down wholly-owned subsidiary of Kaynes Singapore, which is itself a wholly-owned subsidiary of Kaynes India. The deal strengthens Kaynes' North American presence, adds capabilities in oil & gas, energy, telecom, medical devices, and industrial automation, and is positioned as margin-accretive. The transaction is expected to close by end of May 2025, subject to customary approvals, with NC Partners acting as exclusive financial advisor.
Positive for shareholders — this is a strategic cross-border acquisition that expands Kaynes' global footprint into North America and adds high-margin EMS capabilities. The use of a step-down subsidiary structure helps limit direct impact on the listed entity while still consolidating benefits.