Concord control systems acquires Fusion electronics, gains majority stake

Concord Control Systems Limited announced on October 31, 2025, the acquisition of additional equity shares in Fusion Electronics Private Limited, making it a subsidiary. The acquisition was executed via a definitive share purchase agreement, resulting in Concord Control Systems holding an 80% shareholding/control in Fusion. This strategic move aims to integrate Fusion’s expertise in flex PCB manufacturing, a niche product segment with high import dependency in India, into Concord's operations.

The transaction, expected to be completed within six months, involved a cash consideration as per the SPA2 terms. Fusion Electronics, incorporated on October 24, 1994, brings over 31 years of legacy in flex printed circuit board production, with a focus on the global automotive industry, serving prominent clients. Despite a reported nil turnover in the last three financial years, the acquisition aligns with Concord’s vision of leveraging its core strengths in engineering precision and manufacturing excellence to unlock Fusion's potential.

This strategic acquisition marks Concord's entry into flex PCB manufacturing and positions it for a 3-year vision of 2x capacity expansion and forward integration into SMT, box build, and railway electronics. The company aims to commercialize the Lucknow facility before year-end and establish a high-value EMS platform.