Indian company Adani Defence Systems and Technologies, a subsidiary of the Adani Group, has concluded the acquisition of Bangalore-based Alpha Design Technologies Limited (ADTL).
In a filing on the Bombay Stock Exchange on 20 April, Adani said the acquisition will provide it with "strong tier-one capability" in military platforms.
Adani, which is headquartered in Ahmedabad, did not reveal the value of the acquisition. However, in December 2018, when Adani announced it has started talks with ADTL about the takeover, it valued the transaction at about INR4 billion (USD57.3 million).
ADTL specialises in the development and production of systems including electronic warfare (EW), avionics, training and simulation, and radars.
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