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Titan, a Tata-owned company, is looking to acquire boAt Rival Noise in order to expand its wearables business. Play

Titan, a Tata-owned company, is looking to acquire boAt Rival Noise in order to expand its wearables business. Play

, by Anusiya M, 1 min reading time

The Tata Group and TIDCO's joint venture, Titan Company Limited, is aiming to engage in the Indian wearable industry.Noise, a wearable technology firm located in Gurugram, is in talks to purchase a major share in the company.The Tata Group-led firm intends to increase its foothold in the booming wearable category with this transaction.Noise, a consumer electronics company, will be valued at around INR 700–800 crores as a result of the deal.According to a Mint article, the valuation is calculated by tripling Noise's sales of INR 400 Cr, which is typical of firms in the wearable market.

The Noise was founded in 2014 by Amit and Gaurav Khatri to offer smartphone covers but has now expanded to include smart wearables and wireless headphones. According to an IDC research, India's wearable market expanded by 93.8 percent year over year (YoY) in Q3 FY21 (July-September), shipping 23.8 million units.With 4.3 million shipments in Q3, watches remain the fastest-growing category, while wristbands witnessed their eighth consecutive quarter of annual drop.With a 26 percent market share in Q3, Noise maintained its dominance for the sixth quarter in a row, followed by boAt with a 23.1 percent market share.

Hug Innovations Inc, a Hyderabad-based smart gadget developer, was acquired by The Tata Group earlier in 2020 to focus on the burgeoning wearable category.Noise, a Gurugram-based business, has previously used IndigoEdge to search for possible financial backers. According to a report, it planned to raise around INR 100 crore in 2020 at a valuation of nearly INR 500 crore.

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