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Indovation to acquire Hyderabad-based SyMetric Life Sciences, Sristek for $4M

Security and surveillance equipment provider Indovation Technologies Ltd has entered into agreements to acquire SyMetric Life Sciences, a Hyderabad-based pharma solutions company for Rs 15 crore ($2.45 million) and Sristek Clinical Research Solutions Ltd for Rs 10 crore ($1.6 million), as per a stock market disclosure.

The acquisition includes SyMetric’s clinical data management system (CDMS) Mindomatics; computerised psychometrics tests, a software application which has a series of computerised psychomotor tests that enhance the effect of drugs on human motor and psychiatric functions, and pharma app development of the application which is expected to be rolled out by December 2014.

SyMetric Life Sciences, incorporated in 2013, provides pharma solutions and services such as clinical data management system, computerised psychometrics tests and pharma application. 

Sristek provides clinical research services to pharmaceutical, biotechnology and medical device industries globally. The firm has served 70 clients as of now.

Founded in 1984, Visakhapatnam-based Indovation Technologies Ltd (formerly known as Priyadarshini Thread Ltd) offers security and surveillance equipment including those for air and coastal surveillance and forensic services including finger print offerings.

(Edited by Joby Puthuparampil Johnson)

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