Syrma SGS has announced its plan to acquire a majority stake in Elcome Integrated Systems, a prominent defence electronics solutions provider, for ₹235 crore.

The acquisition will be executed through a mix of primary capital infusion and secondary share purchase. The remaining 40% stake will be acquired in multiple tranches over the next three years, linked to performance and earn-out milestones.

Elcome specializes in navigation, communication, surveillance, and platform automation systems catering to India’s defence and maritime sectors. As part of the transaction, Elcome’s board has also approved the acquisition of Navicom Technology International, which will become its wholly owned subsidiary post completion of the first tranche.

This strategic move supports Syrma SGS’s long-term roadmap to build a robust defence electronics platform and strengthen its presence in high-value technology domains.