While Strides Shasun has entered into an agreement to acquire controlling stake in South Africa’s Trinity Pharma Proprietary, Smartron India has acquired a majority stake in home automation startup MiQasa Inc.
Strides Shasun picks up 55% stake in South African co
Pharmaceutical major Strides Shasun has entered into an agreement to acquire controlling stake in South Africa’s Trinity Pharma Proprietary Ltd.
Under the terms of the agreement, Strides Pharma Asia Pte Ltd, a subsidiary Shasun Strides, will acquire 55 per cent stake in Trinity for a cash consideration of around Rs 27.5 crore ($4.3 million), according to a filing to the stock exchanges.
The acquisition will help Strides to establish presence in the high entry barrier market of South Africa, where product dossiers approval takes more than five years, Shasun said in the statement.
This transaction will provide access to pipeline of more than 110 product dossiers already submitted.
The transaction is subject to customary closing conditions including approvals from the South African regulatory authority and is expected to close on or before 5 January 2018.
Smartron acquires majority stake in MiQasa for $1m
Indian OEM and IoT brand Smartron India Pvt. Ltd has acquired a majority stake in home automation startup MiQasa Inc for $1 million.
According to media reports, Smartron has picked up a 60 per cent stake for $1 million cash investment in MiQasa.
Sachin Tendulkar-backed Smartron plans to spend an additional $1 million to help Hyderabad-based MiQasa with logistics, brand promotion, sales and distribution and customer care.
Founded in 2015 MIQASA’s manufacturers smart switchboards, post the acquisition it will be renamed as “TronX Things”, Smartron.