Global Edge, a company specialising in embedded software solutions for the telecom industry, announced on Tuesday that it was taking the entire stake in Bangalore-based Dearborn Electronics (India) Pvt. Ltd.
The acquisition would enable Global Edge to harness Dearborn’s expertise in automotive electronics, said M. P. Kumar, Chairman and CEO of the acquiring entity. Both companies are unlisted.
Mr. Kumar said Global Technology Ventures (GTV), which was founded by V. G. Siddharta (of Café Coffee Day fame), was unlikely to increase its present stake in the combined entity.
Although Mr. Kumar refused to divulge the size of the ‘all-cash’ transaction, he said the two companies’ combined turnover in 2012-13 was Rs.85 crore, of which Global Edge’s was Rs.72 crore. Their combined net profit for the year amounted to Rs.11 crore, he said.
