Indovation Technologies announces acquisition of two companies

For total consideration of Rs 25 crore

Indovation Technologies announced that:

1. Term sheet has been entered into with Symetric Life Sciences - a Hyderabad based Pharma Solutions & Services Company, for acquisition of 100% stake in the said Company along with products mentioned herein below, for purchase consideration of Rs. 15 crore.

a) SyMetric - Clinical Data Management System (CDMS).

b) Mindomatics - Computerized Psychometrics Tests: The software application has a series of computerized psychomotor tests, that enable the effect of drugs on human motor and psychiatric functions. The said software is copyrighted.

c) Pharma App: Development of the application is in advanced stage and is expected to be rolled out by December, 2014.

 

2. Term sheet has been entered into for acquisition of 100% stake in Sristek Clinical Research Solutions based at DLE Cyber City (SEZ), Hyderabad, for purchase consideration of Rs. 10 crore.

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