Electronics design and manufacturing services (EDMS) company inYantra has on Monday announced that it has entered into a decisive strategic partnership with Volex for a transaction totalling $13 million.
According to a press release from inYantra, the association with Volex will deliver pivotal benefits for the company, including access to a global customer base, a strong, combined cross-sell proposition for industrial customers in the region, with its augmented wire and harness capabilities, joint development of complex cable assembly capability through low-cost production for both domestic and export markets, a strategic boost in the ability to service large medical electronics companies, both domestic and abroad, and a stronger and structured focus on the electric vehicle segment which is one of Volex’s key business verticals.
Moreover, inYantra will add two new target verticals – electric vehicles (EVs) and medical electronics– in addition to its existing consumer, automotive and industrial segments, the release added.
Pravin Jain, Chairman, inYantra, said, “The strategic alliance with Volex positions us for accelerated growth for the next five years. We have developed a joint business plan based on the synergies in the existing businesses, as well as a significant expansion of the manufacturing footprint in India, and are targeting multiples of revenue growth by 2027.”
Nat Rothschild, Executive Chairman, Volex, said, inYantra’s existing business, along with the imminent development of a complex cable assembly capability, will improve our customer offering, supporting low-cost manufacturing for existing and new domestic and export customers.” Volex sees a further opportunity to improve inYantra’s margins by allowing it to leverage the economies of scale from being part of a larger group, he added.