Kaynes Technology Acquires Canada-Based August Electronics

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August Electronics Inc. is pleased to announce that it has entered into a definitive agreement to be acquired by Kaynes Canada Limited, a wholly owned step-down subsidiary of Kaynes Technology India Limited, a leading Electronics System Design & Manufacturing (ESDM) company. The transaction is expected to close by the end of May 2025, subject to customary regulatory approvals and closing conditions.

This acquisition marks an exciting new chapter for August Electronics, one of Canada's leading providers of high-reliability electronics manufacturing services. Now part of the Kaynes Technology group, August is positioned as a globally connected electronics company headquartered in Canada — with expanded capabilities and reach to support customers at every stage. The entire August management team will remain in place post-acquisition, ensuring business continuity and a strong foundation for future growth.

"There is a tremendous alignment between August and Kaynes in terms of culture, capabilities, and customer focus," said Tanya Korenda, CEO of August Electronics. "We are extremely excited about this opportunity to join forces and leverage the global scale, engineering strength, and complementary capabilities that Kaynes brings."

"We are thrilled to welcome August Electronics to the Kaynes family," said Ramesh Kannan, Managing Director, Kaynes Technology. "This aligns with our vision to be a globally diversified ESDM leader. The deal strengthens our manufacturing presence in North America, adds key segments like oil & gas, energy, telecom, and factory instrumentation.  August Electronics has strong relationships with large customers with significant electronics demand. Following the acquisition, the combined capabilities of August Electronics in Canada and Kaynes Technology in India present a strong opportunity to serve these customers more comprehensively, positioning the Canada-India alliance as a strategic alternative to China-based sourcing."

The partnership is expected to unlock significant synergies across supply chain, engineering, and advanced manufacturing, and will serve as a key driver for Kaynes' strategic expansion in the North American market.

As part of the transition, Co-Founders Jack Francis (President) and Peter Wilson will step away from their roles. Tanya Korenda will remain in her leadership position, ensuring continuity and stability as the company enters this exciting new chapter. August Electronics will continue to operate with its existing team, structure, and the same strong commitment to quality, partnership, and customer service.

"Kaynes shares our core values and long-term vision. Under Tanya's continued leadership, the team is well-positioned to build on our legacy of innovation and customer focus," said Jack Francis, Co-Founder and President. "We're proud of what we've created, and excited to see August thrive as part of the Kaynes Technology group."

Peter Wilson, outgoing Co-Founder, added, "After an incredible journey building August Electronics into the trusted partner it is today, I'm confident this transition marks the beginning of a powerful new phase."