Samvardhana Motherson is set to acquire Prysm Systems’ assets through a public auction on CNBC-TV18.

India-based company Samvardhana Motherson (SM) has emerged as the winning bidder in a public auction process to acquire the assets of Prysm Systems, a leading provider of digital displays and enabling technologies. The auction was conducted by Prysm Systems’ court-appointed receiver, who oversaw the sale of the company’s assets to pay off its creditors. Samvardhana Motherson, a leading global mobility solutions provider, has secured the assets of Prysm Systems through a competitive bidding process. The acquisition will enable SM to expand its product portfolio and capabilities in the digital display and enabling technologies space. The deal is subject to regulatory approvals and is expected to be completed by the end of 2022. The acquisition is a strategic move by Samvardhana Motherson to solidify its position in the global marketplace and cater to the growing demand for digital displays and enabling technologies.