Amber shares rise nearly 2% after announcing Rs 404 crore acquisition of Israel's Unitronics
Shares of Amber Enterprises India Ltd rose nearly 2% to ₹7,394 in early trade on Monday, following the company's announcement of a definitive agreement to acquire a controlling stake in Israel-based Unitronics (1989) (R'G) Ltd. through its electronics division, ILJIN Electronics.
The deal involves acquiring up to 40.24% of Unitronics' issued and outstanding share capital, bringing Amber's post-acquisition holding to 45.13% alongside co-investor Haim Shami. The acquisition is valued at 15.6 crore Israeli New Shekel, approximately ₹404 crore, and is expected to be completed within 60 business days.
Unitronics, a Tel Aviv Stock Exchange-listed firm, specializes in industrial automation, offering a suite of products including programmable logic controllers (PLCs), human-machine interface (HMIs), integrated PLC-HMI solutions, SaaS-based UniCloud, and industrial IoT technologies.
The strategic acquisition aligns with Amber's broader ambition to strengthen its electronics division and penetrate the industrial automation segment. The move is aimed at enhancing Amber's backward integration capabilities and tapping into global demand for Industry 4.0 solutions, while gaining access to key markets in the US and Europe.
In 2024, Unitronics reported $57 million in revenue with EBITDA margins exceeding 30%, and currently holds a market capitalisation of $110 million. Investors appear optimistic about the growth potential this acquisition brings, pushing Amber's shares higher in Monday's session.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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