ASM Technologies to Invest INR 79.57 Crores in Asmaitha Wireless Technologies
ASM Technologies Ltd. announced that its Board of Directors approved a proposed investment of INR 79.57 crores in Asmaitha Wireless Technologies Private Ltd. during a meeting held on March 19, 2026. The meeting commenced at 2:00 p.m. and concluded at 4:25 p.m.Asmaitha Wireless Technologies, incorporated in India on April 29, 2010, reported a turnover of INR 3.67 crores for the fiscal year 2024-25. The acquisition will bolster ASM Technologies' capabilities in engineering design-led manufacturing, particularly within the embedded, firmware, and wireless domains.
ASM Technologies plans to acquire a 51% stake in Asmaitha Wireless Technologies for a cash consideration. The conditions outlined in the term sheets are expected to be completed, and the Share Purchase Agreement is anticipated to be executed within 90 days, with the overall investment and acquisition projected to be finalized over the next five years.
Asmaitha Wireless Technologies provides engineering and manufacturing services and supports telecom operators and original equipment manufacturers (OEMs). The company has developed customer premises and network infrastructure equipment, IoT modules utilizing BLE and Wi-Fi technologies, and medical wearable devices. It is currently supporting the mass production of a wellness product for the US market.
Historical turnover figures for Asmaitha Wireless Technologies are as follows:
| Financial Year | Amount (In Rs. Crores) |
|---|---|
| 2024-25 | 3.67 |
| 2023-24 | 12.74 |
| 2022-23 | 14.78 |
Source:
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