Murata Manufacturing acquires 5% stake in India's Versa Drives
NEW DELHI, NNA – Japanese electronics parts maker Murata Manufacturing Co. has acquired an equity stake of about 5 percent in India’s Versa Drives Pvt. Ltd., as it seeks to enter the energy management and storage business.
The Kyoto-based firm intends to “take advantage of the Indian firm’s expertise in motor control technology to jointly develop highly-energy efficient products and solutions,” company spokesman Takashi Hayashida told NNA Tuesday.
The value of Murata’s investment was not disclosed.
The Coimbatore-based electronics designer and manufacturer is engaged in supplying customized motor drives and is a leading maker of ceiling fans that use its custom-designed brushless DC motor, according to a statement released on Saturday.
“We see a great potential in Versa Drives’ motor control product line,” Hiroshi Iwatsubo, Executive Vice President of Murata, said in the statement. Murata is “keen to enter energy management and storage business with high performance and high efficiency new products that solve a lot of energy issues of today and we believe that India is an excellent place to focus that effort.”