New Delhi, Jan 4 (UNI) Bilcare Ltd today said its wholly owned subsidiary, Bilcare Singapore Pte Ltd, has bought 100 per cent stake in Singular ID, for a consideration of 19.58 million Singapore dollar.
Singular ID is the provider of integrated high technology enterprise brand security system, said a statement.
Creating and developing innovative and viable anti-counterfeit technologies and products has been one of the core research initiatives of Bilcare.
This acquisition underlines the importance that Bilcare places on offering state-of-the-art anti-counterfeit solutions, more particularly in the form of end user oriented and fully integrated systems, said the statement.
''With counterfeit products not only affecting trust and safety of the consumer, but damaging the reputation and bottom line of the industry as well, there has been a dire need for a robust and scalable anti-counterfeit solution'', said Bilcare Chairman and Managing Director Mohan Bhandari.
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