Adani finalises acquisition of Alpha Design
Indian company Adani Defence Systems and Technologies, a subsidiary of the Adani Group, has concluded the acquisition of Bangalore-based Alpha Design Technologies Limited (ADTL).
In a filing on the Bombay Stock Exchange on 20 April, Adani said the acquisition will provide it with “strong tier-one capability” in military platforms.
Adani, which is headquartered in Ahmedabad, did not reveal the value of the acquisition. However, in December 2018, when Adani announced it has started talks with ADTL about the takeover, it valued the transaction at about INR4 billion (USD57.3 million).
ADTL specialises in the development and production of systems including electronic warfare (EW), avionics, training and simulation, and radars. The company, which was established in 2003, also has aerostructure manufacturing capability.
Adani said the consolidated annual turnover of ADTL was INR4.19 billion in 2015–16, INR2.1 billion in 2016–17, and INR2.18 billion in 2017–18.
ADTL has two operational joint ventures (JVs) with foreign companies. Its JV with Elbit Systems produces subsystems, assemblies, and components for Elbit products such as unmanned aerial vehicles (UAVs), communication systems, and EW systems, while its JV with Italian company Elettronica produces phased-array jammers for fighter aircraft.
ADTL is also a supplier on several major Indian programmes including the Tejas Light Combat Aircraft and the BrahMos supersonic cruise missile.
The capabilities of Adani Defence Systems and Technologies stretch across aerospace, electronics, composites, and aerostructures. The company also operates a JV with Elbit to produce UAVs and has entered into a partnership with Swedish group Saab through which the two firms are proposing to jointly build in India the Gripen E combat aircraft for the Indian Air Force (IAF).
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