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New Delhi Feb. 6 Moser Baer India Ltd on Tuesday announced that it has acquired 81 per cent stake in Phillips NV's wholly-owned subsidiary OM&T BV, a research and development (R&D) company, for an undisclosed amount through an all cash deal.

The company plans to complete the acquisition of the remaining 19 per cent within the next two years, the Executive Director of the company, Mr Ratul Puri said. OM&T had a turnover of 10 million last year, he said.

The acquisition is being done through the company's Cyprus-based special purpose vehicle (SPV) - Peraround, he said and comes into effect retrospectively from January 1 this year, he said.

"The deal would help Moser Baer in strengthening its business portfolio in the blue-laser format," the Chief Financial Officer of the company, Mr Yogesh Mathur, said adding that the platform provides a $5 billion worth of market opportunity.

All intellectual property (IP) created by the Dutch firm would be transferred to Moser Baer.

More Stories on : Hardware | Mergers & Acquisitions | IPR

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