Magellanic Cloud acquires majority stake in drone manufacturer - Scandron

Magellanic Cloud has acquired 70% stake in Scandron, a company incorporated under the laws of India, and having its registered office at Dallas Center 6th floor 83/1 plot No. A1,Knowledge City Rai Durg, Hyderabad 500032, via Share Purchase Agreement(SPA), by way of cash consideration approximate Rs 20 lakh.

Scandron is engaged in the business of design and manufacture of drones which can be used in varied business and commercial applications.

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