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Apollo Micro Systems, which caters primarily to defence and aerospace sectors, on Wednesday said it will acquire majority stake in with Ananya SIP RF Technologies (ASIP RF).
The company signed an agreement with ASIP RF in order to acquire 51 per cent equity share capital, Apollo Micro Systems said in a regulatory filing.
Through the proposed acquisition, the company aims to expand the business towards new technologies by establishing a radio frequency (RF) and microwave design-cum-production facility along with the integration facility.
ASIP RF Technologies was incorporated in 2015 with main objects to carry on the business of design, development, manufacturing, servicing and supply of RF, microwave components, subsystems and systems using conventional and low temperature co-fired ceramic technology.
The shares of Apollo Micro Systems were trading at Rs 76.90 a piece on the Bombay Stock Exchange (BSE), up 1.38 per cent from the previous close.
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