ASM Technologies Limited announced that its board of directors has approved a strategic investment of ₹79.57 crores to acquire a majority stake in Asmaitha Wireless Technologies Private Ltd. The board meeting, held on March 19, 2026, from 14:00 pm to 16:25 pm, formalized this significant expansion move in the design-led manufacturing sector.

Investment Overview

The acquisition involves ASM Technologies purchasing a 51% controlling stake in Asmaitha Wireless Technologies through a cash consideration of ₹79.57 crores. This investment represents a strategic move to strengthen ASM's capabilities in engineering design-led manufacturing, particularly focusing on embedded, firmware and wireless domains.

Regulatory Compliance

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ASM Technologies has disclosed the board meeting outcome. The company has filed the required disclosures with BSE Limited, ensuring full compliance with regulatory requirements.

About Asmaitha Wireless Technologies

Asmaitha Wireless Technologies Private Ltd, incorporated on April 29, 2010, is a 16-year-old company specializing in engineering and manufacturing services in the embedded and wireless domain. The company has developed strong capabilities in engineering services and supports telecom operators and OEMs through installation and commissioning of telecom equipment for large-scale telecom infrastructure rollout.

The target company has designed and developed customer premises and network infrastructure equipment, along with IoT modules leveraging BLE and Wi-Fi technologies. Asmaitha has also developed medical wearable devices for the US market and currently supports mass production of wellness products for the US market, demonstrating end-to-end capabilities from design to manufacturing.

Financial Performance

Asmaitha's financial performance over the last three years shows the following turnover figures:

Transaction Timeline and Approvals

The acquisition process is structured with specific milestones for completion. The conditions under the term sheets are proposed to be completed, and the Share Purchase Agreement is expected to be executed within 90 days from the board approval date. The overall investment and acquisition are proposed to be completed over the next five years.

This acquisition is not classified as a related party transaction, with no promoter or group company interests involved. The deal requires no governmental or regulatory approvals, facilitating a smoother transaction process.

ASM Technologies Limited has announced a strategic investment of ₹48 crores in Myelin Foundry Private Limited, marking a significant expansion into artificial intelligence solutions. The company's board of directors approved this investment during their meeting held on February 20, 2026, which commenced at 8:30 AM and concluded at 12:15 PM.

Regulatory Compliance and Filing

The investment announcement was made through an official filing to the Bombay Stock Exchange under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Vanishree Kulkarni, Company Secretary and Compliance Officer (Membership No.: F13306), ensuring full regulatory compliance.

Investment Details

The investment will secure ASM Technologies a 20% shareholding in Myelin Foundry through a cash consideration structure. The transaction is expected to be completed within 12 months of approval, with no governmental or regulatory approvals required for the acquisition.

Strategic Partnership Objectives

The partnership integrates Myelin's "edge-first" AI stack, specializing in predictive intelligence and multimodal analytics, directly into ASM's engineering design-led manufacturing portfolio. The collaboration focuses on bridging the gap between AI and the factory floor through Edge AI processing.

Key Focus Areas

The rollout will concentrate on four primary areas:

• Predictive Maintenance: Moving from reactive repairs to data-driven forecasting to eliminate unplanned downtime
• Multimodal Analytics: Fusing data from sensors, vision, and acoustics for a 360-degree view of machine health
• AI-Augmented Operations: Empowering human operators with real-time, intelligent assistance to improve safety and precision
• Sustainability & Efficiency: Optimizing energy consumption and resource allocation through autonomous system adjustments

Leadership Perspectives

Rabindra Srikantan, Managing Director, ASM Technologies Ltd, said, "ASM has been progressively integrating AI across our engineering design-led manufacturing and automation solutions. This strategic investment in Myelin Foundry strengthens our technology foundation by adding advanced edge-based AI capabilities. The collaboration will enable us to deliver intelligent capital equipment for semiconductor, electronics, solar and engineering ecosystems as they move towards smarter manufacturing environments that enhance yield, through put, equipment reliability with predictive real time intelligence."

Gopichand Katragadda, Founder and CEO, Myelin Foundry, said, "Industrial AI must operate reliably in real production settings where decisions are made in real time. The investment from ASM Technologies allows us to scale our multimodal AI platforms across global manufacturing ecosystems and demonstrate the impact of edge intelligence at the machine level. Together, we aim to accelerate the shift towards autonomous, efficient and data-driven manufacturing."

About Myelin Foundry

Myelin Foundry Private Limited is a deep-tech AI company incorporated on January 21, 2019, in India. The company transforms industries with edge-native artificial intelligence, specializing in low-latency, secure environments and providing advanced vision and time-series analytics for industrial, automotive, and media sectors.

Financial Performance

Funding History

Myelin Foundry has secured multiple funding rounds since its inception:

• Seed and early-stage funding rounds since 2019, including a pre-Series A round led by Beyond Next Ventures and Endiya Partners
• Series A funding of approximately USD 3 million led by Visteon Corporation in 2023
• Equity fundraising of approximately USD 4 million led by SIDBI Venture Capital Limited in 2024

Global Presence

Myelin Foundry operates through its U.S. wholly-owned subsidiary, Myelin Inc., incorporated in August 2023. The subsidiary supports global AI product business, facilitating deployment, customer engagement, and business development for edge-AI solutions across industrial automation, automotive systems, factory intelligence, and surveillance applications.

This strategic investment positions ASM Technologies to leverage cutting-edge AI capabilities in manufacturing processes, enhancing operational efficiency and technological advancement in their engineering portfolio.