nest group looks for acquisitions abroad | kochi news - times of india

by:Rocket PCB     2019-10-27
KOCHI: NeST Group, recently sold a 84% stake in NeST software to Bangalore
About Rs 500, based in Quest Global Engineering, is looking for acquisitions from overseas software or hardware companies.
The group\'s plan is part of its decision last month to increase foreign direct investment into the country\'s aerospace and defense sector (FDI)
The number of defense departments has increased from 49% to 25%.
\"Acquisition negotiations are underway with two or three potential companies in the US and Europe.
Our plan is to spend money from the recent sale of shares in electronics manufacturing services and R & D core areas, \"said MD and vice.
Chairman of the group.
\"In order to enter the aerospace and defense sector on a large scale, we need to strengthen R & D and restructure the company internally.
We also need resources to expand, \"an official at the company said as he reasoned about NeST software sales.
As part of the NeST Group, SFO Technologies currently has a foreign direct investment of just over 49% and will restructure the capital to comply with the requirements of the defense offset convenience Agency (DOFA)
A senior official said.
Special Economic Zone of Kochin (CSEZ)-
Based on SFO technology
Layer printed circuit board (PCB)
Assembly, wiring harness and precision box manufacturing in healthcare and automotive industries.
Jehangir also said he plans to develop another software Department soon at Kochi near the Infopark campus to support the development of SFO Technologies.
\"By 2020, the electronics manufacturing business in India will reach $30 billion and our goal is to get a 30% share of the market,\" alth, son of Jehangir and executive director of SFO Technologies
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