Zetwerk Electronics and VCAS Solutions completed the acquisition of 60% stake in Smile Electronics for $17m.

Zetwerk Electronics, a contract manufacturing firm, and VCAS Solutions, an electrical equipments manufacturer, completed the acquisition of 60% stake in Smile Electronics, an electronics manufacturing services company, for $17m. "We’re thrilled to partner with ZETWERK, a leader in the global value chain. This collaboration offers perfect synergy: SMILE scales to become a top Indian ESDM player, while ZETWERK gains expertise in the flourishing IT hardware industry," Mukesh Gupta, Smile Electronics Chairman.