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Hyderabad June 13 Javelin Technologies Ltd, a Mumbai-based, biotech and software company, is set to pick up 51 per cent equity in Manasa Organics Ltd, based in Visakhapatnam.

In a notice to the stock exchanges, Manasa Organics, a manufacturer of dye intermediates, said a Memorandum of Understanding (MoU) has been signed with Javelin Technologies for the purpose.

Manasa Organics, which has its manufacturing plant in Nellimarla, Vizianagaram district, will become a subsidiary of the Mumbai company, once the due acquisition process is completed, a company spokesperson told Business Line.

More Stories on : Mergers & Acquisitions | Bio-tech & Genetics | Software

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