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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 that will be located in Chennai, India, and will focus on a broad range of defence 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.
“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 defence requirements with today’s technology solutions.”
Fabrizio Giulianini, CEO of SELEX Galileo agreed, saying, “This joint venture will establish a centre of excellence for key technologies in the defence 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.”
The joint venture will aim to provide a greater thrust to critical technologies at a product and system level in ‘Buy and Make’, ‘Make’ and ‘Offset’ programmes in the areas of avionics, navigation, radars, UAVs, FINSAS, etc in the Indian defence market, and also facilitate access to export markets.
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