Indian electronics manufacturing company Amber Group is acquiring a 40.4% stake in Israeli electronic components firm Unitronics.

The shares are being purchased from private equity fund FIMI and technology entrepreneur Haim Shani.

Amber will acquire 31.4% of Unitronics from FIMI for ₪122 million (US$36.4 million) and 9% from Shani for ₪35 million (US$10.4 million).

After the transaction, Shani will retain a 4.76% stake in the company. This deal values Unitronics at ₪388 million (US$115.8 million), approximately 15% higher than its current market price.

Unitronics specializes in programmable logic controllers (PLCs) and offers hardware and software solutions for industrial automation.

FIMI first acquired control of Unitronics in 2016 for ₪110 million (US$32.8 million).

At that time, this valued the company at ₪220 million (US$65.7 million).

In 2019, Unitronics separated its robotic parking operations into a different entity, Utron, which is now valued at ₪75 million (US$22.4 million).

FIMI, led by Ishay Davidi, reported a 4.8x return on its investment in Unitronics.

This transaction marks FIMI’s first sale to a foreign buyer in recent years, following several exits to Israeli institutional investors.