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Dixon Technologies (India) Limited — M&A Activity 2022
Sep 19, 2022
62610_rns_2022-09-19_6af37eba-d31b-4628-a7e4-afd9f83045d1.pdf
M&A Activity
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ASHISH Digitally signed by ASHISH KUMAR Date: 2022.09.19 KUMAR 13:29:16 +05'30'
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DIXON AND IBAHN ILLUMINATION SIGNS ‘TERM SHEET’ FOR TRANSFER OF ADVANCED LIGHTING SOLUTIONS AND TECHNOLOGY
- Dixon has signed Term sheet with Ibahn whereby Ibahn has agreed to transfer its Technology solutions- BLE Mesh Smart Lighting (App, Firmware, Hardware, Cloud Hosted Database) and WiFi based technology solutions for its lighting products
Noida, 19[th] September, 2022
Dixon has entered into binding Term Sheet with Ibahn Illumination Private Limited (‘Ibahn’) whereby Ibahn has agreed to transfer its cutting edge Technologies of smart lighting solutions. The Technology proposed to be transferred shall include the technology developed by Ibahn pertaining to BLE Mesh Smart Lighting (App, Firmware, Hardware, and Cloud Hosted Database) that provides consumers with a wide range of combination & control as well as work-in-progress technology pertaining to WiFi based technology solutions for its lighting products. Bluetooth Mesh is a computer mesh network standard based on Bluetooth Low Energy (BLE), a wireless personal area network technology designed to provide low-cost & low energy consumption connectivity. The transaction shall be consummated upon execution of all the necessary Definitive agreements as per the Term Sheet.
Commenting on this occasion, Mr Atul B. Lall, Vice Chairman & Managing Director of Dixon Technologies stated, “We are thrilled to buy the smart lighting solutions from Ibahn to offer the best of lighting & technology to our customers in lighting business. Globally the market for smart lighting is large & Dixon wants to be gear up & be ahead on technology front. I am confident that this addition of smart lighting solutions to the existing technology & R&D base of the Company shall prove to be an important milestone in our journey of continuous innovation in our Lighting business.”
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About Dixon Technologies (India) Limited
Dixon Technologies (India) Limited is India’s largest* home grown design-focused and solutions company engaged in manufacturing electronic products and has a diversified portfolio which includes (i) consumer electronics like LED TVs; (ii) Home appliances like washing machines; (iii) lighting products like LED bulbs, LED battens, down lighters etc.; (iv)Mobile phones/Smart phones; (v) CCTV & DVRs; (vi) Medical Equipment; (vii) Set Top boxes; (viii) IT Products; (ix) Telecom & Networking Products.
*Source: Project Rise: Indian Consumer Electronics & Appliances Market Study, issued by Frost& Sullivan India Private Limited
For further clarification, you may contact the undersigned: Ashish Kumar Group Company Secretary, Head- Legal & H.R. Address: B-14 & 15, Phase-II, Noida, Gautam Buddha Nagar, Uttar Pradesh – 201 305 Contact No. : +91 120 473 7200; Fax: +91 120 473 7263 Email: [email protected]