ORG Informatics to acquire companies worth $20 mn

New Delhi, Dec 24: ORG Informatics Ltd, service provider in remote sensing, photogrammetry and software development, has said it is in the process of finalising various acquisition proposals in India and abroad worth 20 million dollars.

The Board of Directors have authorised Mr Ajoy K Khandheria, Managing Director and Chief Eexcutive Officer (CEO), to negotiate and finalise the acquisitions, against consideration of up to 20 million dollars in cash and or cash equivalents.

The company also postponed considering the proposal for issuance of six lakh convertible equity warrants at Rs 170 to Albrireo Enterpirses, US and Tulip Biochem Pvt Ltd.

''The proposal shall be considered at a separate meeting of the shareholders in the light of the upcoming new opportunities, if need arises,'' a company statement has said.

The move was unanimously approved by all members present at the meeting.

UNI