Opto Circuits to acquire European firm for $100 mn

Opto Circuits to acquire European firm for $100 mn
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First Published: Fri, Sep 19 2008. 02 53 PM IST
Updated: Fri, Sep 19 2008. 02 53 PM IST
PTI
Mumbai: Healthcare equipment manufacturer Opto Circuits today said it will acquire Europe-based medical devices maker for over $100 million (about Rs 463 crore).
The company has signed a non-binding Letter of Intent (LoI) for the proposed purchase of the entire of the capital stock of the European firm, Opto Circuits said in a filing to the Bombay Stock Exchange.
Earlier this year the company had acquired US-based Criticare Systems Inc as part of its overseas expansion strategy, following which the latter became its wholly-owned subsidiary.
Shares of Opto Circuits were trading at Rs 297.65, up 2.74% in the late afternoon trade on the BSE.
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First Published: Fri, Sep 19 2008. 02 53 PM IST