Posted by- Neelam Mathews
March 31, 2012
As we reported two days back, Data Patterns Group and SELEX Galileo, a Finmeccanica Company, have signed a Head of Terms agreement with a view towards forming a Joint Venture later this year.
The JV will be located in Chennai, India and “will focus on a broad range of defense electronic products and state-of-the-art technology developments. The two companies will leverage their strong development and manufacturing capabilities and their advanced product ranges.”
The JV will be their primary vehicle for bids. The joint venture will provide greater thrust to critical technologies at a product and system level in ‘Buy and Make’, ‘Make’ and ‘Offset’ programs in the areas of Avionics, Navigation, Radars, UAVs, FINSAS etc in the Indian defense market and also facilitate access to export markets.
“This joint venture will bring a technology value to India’s growing defence programmes” said S Rangarajan, CEO of Data Patterns Group, adding: “SELEX Galileo is a leading global player and we are happy and proud to form a joint venture with them. This synergy will strengthen our capabilities to address our defense requirements with today’s technology solutions.”
Fabrizio Giulianini, CEO of SELEX Galileo added: “This Joint Venture will establish a centre of excellence for key technologies in the defense electronics sector. It is a truly value adding JV on both sides and will create an effective partnership that will foster and sustain the long term prospects of both companies.”