ABCD Technologies buys 66 percent stake in AWACS
New Delhi: ABCD Technologies has, through its wholly-owned entity DigiHealth Technologies, acquired 66.02 per cent ownership interest in market research firm AIOCD Pharmasofttech Awacs, several pharma firms said in regulatory filings on Wednesday.
"Our investee entity i.e. ABCD Technologies LLP (to be renamed as IndoHealth Services LLP) has through its wholly-owned entity DigiHealth Technologies LLP, acquired 66.02 percent ownership interest in AIOCD Pharmasofttech Awacs Private Ltd (AWACS)", various pharma firms, including Cipla, Torrent Pharma, Dr Reddy's and Cadila Healthcare, said in regulatory filings.
They added that the acquisition has taken place through a combination of direct purchase of 50 per cent ownership interest in AWACS and indirect purchase of 16.02 per cent ownership interest in AWACS, through acquisition of 32.04 per cent shareholding interest in Trikaal Mediinfotech Pvt Ltd.
It is also agreed to acquire the balance stake subject to fulfilment of certain terms and conditions, they added.
AWACS is engaged in the business of pharmaceutical data collection and market research, the filings said.
Trikaal is 50 per cent owner of AWACS and holds certain intellectual property in relation to AWACS' business, they added.
The acquisition of 33.44 percent of the shareholding in AWACS (indirect) is envisaged to be completed over the course of the next few months, subject to fulfilment of certain terms and conditions, the filings said.
The remaining 0.54 per cent of the shareholding in AWACS (indirect) is likely to be acquired after 5 years, they added.
"The cost of acquisition for the combined transaction of AWACS and Trikaal is about Rs 75 crore for acquisition of a 100 per cent stake in AWACS and Trikaal (direct and indirect together)," the filings said.
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