Express Pharma

ABCD Technologies buys 66.02 per cent stake in AWACS

The acquisition of 33.44 per cent of the shareholding in AWACS (indirect) is envisaged to be completed over the course of the next few months

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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.

“Our investee entity i.e. ABCD Technologies (to be renamed as IndoHealth Services) has through its wholly-owned entity DigiHealth Technologies, acquired 66.02 per cent ownership interest in AIOCD Pharmasofttech Awacs Private (AWACS),” informed various pharma firms, including Cipla, Torrent Pharma, Dr Reddy’s and Cadila Healthcare, 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 the acquisition of 32.04 per cent shareholding interest in Trikaal Mediinfotech.

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 per cent 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 five 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.

(Edits by EP News Bureau)

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