Titan to acquire Noise Impact on Boat

Titan to acquire Noise Impact on Boat

Titan to acquire Noise Impact on Boat

Titan to acquire Noise Impact on Boat

Noise, a consumer electronics manufacturer, will be valued at around INR 700–800 crores as a result of the agreement. Titan intends to use this agreement to expand its footprint in the rapidly expanding wearables market. An IDC analysis states that domestic companies have taken more than two-thirds of the watch market as a result of their aggressive offers and marketing expenditures on digital channels. Titan to acquire Noise Impact on Boat

Titan Company Limited, a joint venture between The Tata Group and TIDCO, is planning to make a significant investment in the Indian wearable technology sector. Noise, a wearable gadget firm located in Gurugram, is in talks with the corporation about purchasing a large share in the company.

With this acquisition, the Tata Group-led firm hopes to expand its position in the rapidly rising wearable technology industry.

Noise, a consumer electronics manufacturer, will be valued at around INR 700–800 crores as a result of the agreement. According to a report by Mint, the value is calculated by doubling Noise’s sales of INR 400 Cr, which is a figure that firms in the wearable market are known to attract.

Titan to acquire Noise Impact on Boat

Titan to acquire Noise Impact on Boat

Titan to acquire Noise Impact on Boat

Noise was founded in 2014 by Amit Khatri and Gaurav Khatri with the goal of selling smartphone covers. The company has now expanded to include smart wearables and wireless headphones.

International Data Corporation (IDC) said that India’s wearable market surged by 93.8 percent year on year (YoY) during the third quarter of fiscal year 21 (July-September), shipping 23.8 million units. Watches continue to be the fastest-growing category, with 4.3 million sales in the third quarter, while wristbands had their yearly shipments fall for the sixth consecutive quarter.

Furthermore, according to IDC’s analysis, domestic companies have taken more than two-thirds of the global watch market via aggressive product launches and marketing expenditures on digital platforms. Noise maintained its dominance for the sixth consecutive quarter, capturing 26 percent of the market in Q3. It was followed by boAt, which captured 23.1 percent of the market.

Hug Innovations Inc, a Hyderabad-based smart gadgets manufacturer, was bought by The Tata Group earlier in 2020 in order to concentrate on the burgeoning wearables area. Noise, a Gurugram-based firm, has previously employed IndigoEdge to search possible financial backers to help it grow its business. According to a report, the company planned to raise around INR 100 crore in 2020 at a value of approximately INR 500 crore.

boAt, which is preparing for an initial public offering (IPO) of INR 2000 crore, recently acquired Singapore-based KaHa Pte Ltd. (Cove IoT). Imagine Marketing, the parent company of boAt, has entered into an agreement to buy Singapore-based KaHa Pte Ltd. This acquisition will allow Boat to enhance its wearable devices using KaHa’s idea development, design and electrical firmware; algorithm development; and development of Android and iOS apps, among many other features and capabilities. Titan to acquire Noise Impact on Boat

Prior to this, boAt secured $100 million from a subsidiary of Warburg Pincus, a private equity company located in New York, via a debt financing. In addition to an emphasis on manufacturing, the funds would be used for a research and development (R&D) push into new device categories and other areas, among other things. The company has been valued at $300 million in this round.

NOISE, one of India’s biggest wearable technology companies, is slated to be acquired by the TATA group.

Chinese enterprises such as Realme and Huami have been defeated by Noise, which has showed remarkable potential.

The Aatmanirbhar Bharat and Public Sector Undertakings (PLI) schemes of the Modi government are encouraging indigenous businesses to expand internationally.

In the past several years, Indian accessory manufacturers, particularly earphone companies such as boAt and Noise, have established themselves as leaders in their respective fields. They provide high-quality items at a reasonable price point. Noise is one of the most well-known wearable technology companies in the nation, and Titan Company, the consumer goods arm of the Tata Group, intends to purchase the company.

 

Noise is about to become worldwide.

Titan to acquire Noise Impact on Boat

 

Titan to acquire Noise Impact on Boat

Titan generates yearly revenues of 21,000 crore rupees and profits of more than 2,000 crore rupees from the sale of fashion accessories such as jewellery, watches, and eyeglasses. Titan is headquartered in Mumbai, India. The company’s revenues and market capitalization have increased by orders of magnitude in recent years, and it has become more aggressive in its growth aspirations.

Titan’s debut into the wearables industry will elevate Indian earbuds to a higher level of international recognition. These reasonably priced items would be offered not only in India, but also in other nations throughout the globe. Titan to acquire Noise Impact on Boat

In accordance with a report the purchase is expected to value Noise, which is owned by Gurugram-based Nexxbase Marketing Pvt. Ltd, at between 700 crores to 800 crores in value. The company’s worth is based on double the consumer electronics maker’s turnover of Rs 400 crores, which is the normal valuation for firms in the wearables area.

In this blog we have provided information about Titan to acquire Noise Impact on Boat

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