Electronic manufacturing firm Dixon Technologies and the parent company of boAt- Imagine Marketing has announced a partnership to form a 50:50 joint venture to manufacture bluetooth enabled audio devices, an official statement highlighted.
The company and Imagine have entered into an agreement to form a joint venture company to undertake the manufacturing of bluetooth enabled devices.The association will undertake design and manufacturing of Wireless Audio Solutions in India & the JV partners will co-invest in the evolving Indian mobile accessory market, a joint statement said. Both the companies will nominate two directors each on the board of JV.
The equity shares of the proposed JV Company will be issued to the Company and Imagine in equal proportion i.e. 50:50.
Atul Lall, Vice Chairman & Managing Director, Dixon Technologies said the company has been manufacturing wearables for boAt since the previous fiscal year and now the business relationship is getting cemented with this Joint Venture.
He further added, “Through our partnership, we aim to provide boAt with a faster ability to scale up manufacturing in India with our low-cost structure, high quality and superior execution track record. We strive to develop innovative products with boAt for not only the discerning Indian consumers but also for global markets.”
Founded in 1993, Dixon Technologies provides manufacturing and design-focused solutions in consumer durables, home appliances, lighting, mobile phones, security devices, set-top boxes, wearables and medical equipment to customers.
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