Himachal Futuristic Communications (HFCL) buys 90% of the equity shares of RADDEF. With this buyout, HFCL becomes a subsidiary of the Company, w.e.f. May 15, 2019.
The acquisition would result in benefit of operational synergies and the Company will be able to explore untapped growth in the Telecom and Defence business verticals of the company. The cost of acquisition is Rs 90,000 towards 9,000 fully paid-up equity shares.
HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.
RADDEF was formed with an aim to provide Common Of The Shelf (COTS), Radio Frequency (RF) & Microwave products to Indian and worldwide customers covering Navy, Military, Aerospace, Process Control & Automation, Communication, Test and Measurement Industry.