Titan Engineering and Automation, a Tata Group company , has acquired Chinese industrial firm Justech Precision's India unit for close to $100 million, according to two people familiar with the matter, as the conglomerate bolsters its manufacturing capacity to benefit from Apple's focus on iPhone manufacturing in India.

The transaction was concluded in August, with HSBC Bank and HDFC Bank advising on it, according to the people close to the deal.

Headquartered in the city of Kunshan in Jiangsu province, China, Justech Precision has been a supplier to Apple since 2008. It provides industrial equipment, such as computer numerical control machines used for precise cutting and fabrication tasks, to Foxconn, the world's largest assembler of Apple products.

Justech Precision Industry Indi

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