Electronics firm Syrma to merge with SGS Tekniks to form ₹1,200 cr unit

Chennai and Gurugram-based electronics design firms Syrma Technology and SGS Tekniks have announced a cash and stock merger to create Syrma SGS. The combined entity will have 4,500 employees and a revenue of ₹1,200 crore. Syrma MD Sandeep Tandon said the businesses were complementary as Syrma and SGS derived 85% of their revenues from foreign and local markets respectively.