India-based electronics manufacturer Kaynes Technology acquired US-based Digicom Electronics. Kaynes Semicon also formed a partnership with DigLens for AR product manufacturing.
According to the Economic Times, Kaynes Technology, an India-based electronics design and manufacturing service provider, acquired US-based EMS provider Digicom Electronics, in addition to the acquisition of 13.2% shares in US-based deep tech semiconductor startup Mixx Technologies.
Deepak Chadha, chief executive-business operations at Kaynes Technology, told the Economic Times that the acquisition of Digicom Electronics will enable the company to do small build and prototyping in the US and do scale manufacturing in India. According to CNBC-TV18, Kaynes announced its plan for the transaction by filing a qualified institutional placement (QIP) for fund-raising in December 2023.
On the other hand, Business Wire reported that DigiLens formed a partnership with Kaynes Technology to scale waveguide manufacturing to aid in delivering DigiLens' AR device, the DigiLens ARGO, in the Indian market. Kaynes Semicon, a wholly-owned subsidiary of Kaynes Technology, will manufacture DigiLens in its Hyderabad facility.
Business Wire quoted DigiLens CEO Chris Pickett saying that it's exciting to work with Kaynes Technology because of the latter's advanced manufacturing and design presence in India, adding that commercial delivery of AR smartglasses needs critical components, such as waveguide, from a global ecosystem of partners at a low cost and a high manufacturing yield to ensure success.
Ramesh Kanna, founder and managing director of Kaynes Technology, said the company is excited to join the AR revolution and support scaled manufacturing of the next generation of optical waveguides. The company is investing in building a world-class OSAT facility in Hyderabad, where the waveguide and light engines for DigiLens ARGO will be manufactured. The partnership will also help DigiLens expand its footprint in Asia by bringing products to India's commercial, industrial, and defense markets.
Besides the OSAT facility in Hyderabad project announced in November 2023, Kaynes Semicon is building an R&D center for Co-Packaged Optics (CPO) in Mysuru. Kaynes SemiCon's parent, Kaynes Technology, is setting up an INR7.5 billion PCB manufacturing facility in Mysuru.
Source: Kaynes Technology, January 2024
