Latest news with #HaimShami
Business Standard
a day ago
- Business
- Business Standard
Amber Enterprises gains as arm IL JIN acquires controlling stake in Israel's Unitronics
Amber Enterprises India rose 1.82% to Rs 7,398 after its material subsidiary, IL JIN Electronics India, entered into definitive agreements to acquire a controlling stake in Israel-based Unitronics. Unitronics is a publicly listed company with shares trading on the Tel Aviv Stock Exchange. Amber will acquire up to a 40.24% controlling stake in the issued and outstanding share capital of Unitronics. Following the acquisition, it will jointly hold a 45.13% stake in the company along with Haim Shami. The stake will be acquired for 15.6 crore Israeli New Shekel, equivalent to approximately Rs 404 crore (1 Israeli New Shekel = Rs 25.89). The transaction is expected to be completed within 60 business days from the signing of the agreements. Amber stated that the proposed acquisition is aligned with the strategy of its electronics division to expand into industrial applications, leveraging its backward integration capabilities to localise manufacturing. The move is likely to enhance Amber's competitiveness in the Indian market and will cater to the growing demand for industry 4.0 solutions and provide access to markets like the US and Europe. Jasbir Singh, executive chairman and CEO of Amber Group, said: This transaction will significantly strengthen Amber's Electronic Division by providing a strong foothold in the rapidly growing sector of Industry 4.0 solutions and real-time data-driven technologies. This strategic move marks a significant expansion for IL JIN, Amber's Electronic Division, as it broadens its portfolio from Consumer Durables, Hearable and Wearable, Telecom, Automotive, Energy Meters, and Defence into the industrial electronics segment with global access. The partnership aims to leverage the capabilities of both organisations to achieve sustainable growth in the field of industrial automation. Haim Shani, joint chairman of Unitronics, who will continue to serve on the board and closely work with the Amber leadership, said: This strategic partnership with Amber Group represents a pivotal moment in our journey. Driven by a shared vision, this collaboration aims to unlock powerful synergies and scale the business to new heights. By joining forces, we intend to accelerate growth, enhance capabilities, and create lasting values for all stakeholders, including our team, partners, and customers. I express full commitment to the company's future and excited to work alongside our new partners as we enter this transformative phase together. Amber Group is a diversified B2B solution provider in the HVAC industry, and operates across three business verticals: consumer durables, electronics and railway subsystems & defence. The companys consolidated net profit jumped 22.6% to Rs 116.07 crore on 33.8% increase in net sales to Rs 3,753.70 crore in Q4 FY25 over Q4 FY24.
Business Upturn
a day ago
- Business
- Business Upturn
Amber shares rise nearly 2% after announcing Rs 404 crore acquisition of Israel's Unitronics
By Aditya Bhagchandani Published on July 28, 2025, 09:34 IST 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. Ahmedabad Plane Crash 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.
