LONDON TES (Technology Electronic Solutions), an independent full service electronic design and manufacture company, has been formed through the acquisition of Thales Electronic Solutions (TES) business by a group of investors.
The activities included in the acquisition are the Grand Fougeray and Langon production centers, the 5 design centers in France, the RF center in Châteaubourg, the CEACI facility in Toulouse, and the 8 design centers in Germany and Scotland. The acquisition includes over 600 employees; more than half of which are design engineers.
The group of buyers consists of three investment funds: Shah Captial Partners, CDC Enterprises Innovation, and VPSA (formerly Viventures).
Ajay Shah of Shah Capital Partners, who founded and managed the Technology Solutions Business of Solectron and was also the co-founder and CEO of Smart Modular Technologies, said, “We firmly believe that there is demand for a provider of a full range of services with core competence in both design and manufacturing. Our vision is to expand globally and to create a world-class CDM company. To achieve this goal, we will grow both organically and externally and the company will certainly be present on three continents in less than a year from now”.
Michel Desbard, a venture partner at CDC Enterprises Innovation, has been appointed as president of TES. He has held senior positions within Thalès semiconductor division, the memory division of Fairchild Semiconductor and was chairman and CEO of Matra Semiconductor. He also founded T.sqware, a Californian start-up dedicated to the development of network processors.