Volex completes acquisition of inYantra Technologies

Integrated manufacturing and power products company Volex announced on Monday that it has completed the acquisition of inYantra Technologies.

The AIM-traded firm said the completion came after it concluded the purchase of industrial land and operational buildings at the inYantra site in Pune, India, for $5m (£4.08m).

That property purchase itself followed the completion of a 51% equity investment in inYantra for $8m, on 30 March.

“The completion of our acquisition of inYantra, provides an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market,” said executive chairman Nat Rothschild.

At 1143 BST, shares in Volex were down 2.43% at 240.5p.

Reporting by Josh White at Sharecast.com.