Electronics design firm Syrma to merge with SGS Tekniks to create Rs 1,200-cr entity

Chennai: Syrma Technology and SGS Tekniks on Wednesday announced a merger agreement to further strengthen their design and manufacturing capabilities for global and domestic OEMs.

The cash cum stock merger will see the creation of Syrma SGS Technologies with a combined turnover of over Rs.1000 crores, with 55% revenues coming from exports primarily to USA and Europe. The deal was supported through a Private Equity investment by GEF.