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Our Bureau

Hyderabad , July 26

Astra Microwave Products Ltd, a Hyderabad-based company engaged in space related products and manufacture of antennae, has acquired 70 per cent stake in Ahmedabad-based Komoline Electronics Pvt Ltd.

The General Manager and Compliance Officer of Astra Microwave, Mr S. Gurunatha Reddy, said that Komoline is engaged in space application products that are mounted on space payloads.

It provides products for the space application centre based there.

Speaking to Business Line, Mr Reddy said the company would serve as an ideal complementary foil and would be able to contribute about Rs 12 crore over next two years.

The buyout was through an all cash deal for Rs 2.1 crore.

More Stories on : Mergers & Acquisitions | Electronics

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