Centum Elec completes 51% stake buy in France's Adetel group

Centum Electronics today said it has completed acquisition of controlling stake in France's Adetel group.
"The company has completed the activities with respect to acquisition of the French Adetel Group SA," Centum Electronics said in a BSE filing.
Last month, Centum Electronics announced acquisition of controlling stake in France's Adetel group.
"Centum Electronics will hold 51 per cent controlling stake in Adetel group, with an option to increase it further at a future date. This acquisition will help us consolidate and grow in these geographies where Adetel operates," Centum Electronics Chairman and MD Apparao Mallavarapu told PTI.
The company, however, did not disclose the size of the deal.

"We can now accelerate growth, fill product portfolio gaps, improve our market position, benefit from the use of even more advanced technology and of course, establish a wider, more international presence," he added.
Adetel has operations in the US, Europe and Canada.
Both the companies offer services in defence, aerospace and communications.