Kaynes Tech has acquired an Austria-based company Sensonic, in an effort to enhance its capabilities in railway safety and infrastructure management, the company said on December 3.
The acquisition of a controlling stake of 54% has been executed through a wholly-owned subsidiary Kaynes Holding, and it expands Kaynes' presence in global infrastructure technology markets, said the company. The partnership integrates Sensonic’s fiber optic sensing technologies with Kaynes' track record in manufacturing and IoT innovation.
Ramesh Kunhikannan, Managing Director of Kaynes Technology said the acquisition will advance the company's plans to deliver railway safety and efficiency on a global scale.
Sensonic provides what is known as Distributed Acoustic Sensing (DAS), a solution to monitor railway infrastructure that combines fiber optic sensing with Artificial Intelligence and machine learning. The Austrian company's services turn optical fibers into vibration sensors, which in turn gather critical infrastructure information along their length.
"A multitude of insights are revealed by listening to the railway, including monitoring of track condition, alerting of landslides and rockfalls, identifying security threats and more," the Kaynes statement said about the acquired company.
Kaynes Tech has a market capitalisation of close to Rs 40,000 crore, and the shares are higher by 135% so far this year.
Recently, Kaynes Technology had acquired smart meter company Iskraemeco India for Rs 43 crore, to boost products and services in energy management.
The company is betting of government's plans on the infrastructure front, and says it is hopeful of more traction on railways in the second half. Kaynes sees a potential business of Rs 15,000-20,000 crore from the Kavach System, as an addressable market and has been working to seek approvals.
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