Indovation Tech to buy out Symetric Life

Indovation Technologies has informed the exchanges that a term sheet has been entered into with Symetric Life Sciences Pvt Ltd, a Hyderabad-based pharma solutions & services company, to buy it out for ₹15 crore. The deal includes acquisition of the latter’s products such as SyMetric - Clinical Data Management System; Mindomatics - Computerised Psychometrics Tests; and Pharma App - Development of the application is in advanced stage and is expected to be rolled out by December. The company has also entered into an agreement to buyout another Hyderabad-based firm Sristek Clinical Research Solutions for ₹10 crore. The stock gained 1.93 per cent at ₹84.65 on the BSE.