UPL acquires

UPL acquires 26% stake in Weather Risk Management

16 June, 2016

Agrochemical major UPL Ltd has acquired a 26% equity stake in Weather Risk Management Services (WRMS) for Rs 10 crore in cash, as per stock market disclosure.

UPL has entered into an agreement with WRMS, the promoters of WRMS and the subsidiary of WRMS, namely INGEN Technologies (INGEN). As per the agreement, UPL will subscribe to 37,681 equity shares constituting 26% share capital of WRMS.

The formalities related to the acquisition are expected to be completed within 90 days.

This collaboration will help UPL in providing farm services, precision fanning solutions and several other value added services to farmers. UPL would leverage on technology platform developed by WRMS, to strengthen its relationship with farmers, the statement said.

UPL (formerly United Phosphorus) is a global player of crop protection products and has customers in 123 countries.

It has subsidiary offices in Argentina, Australia, Bangladesh, Brazil, China, Canada, Denmark, Indonesia, France, Hong Kong, Japan, Korea, Mauritius, Mexico, New Zealand, Russia, Spain, Taiwan, South Africa, the US, the UK, Vietnam and Zambia.

On the other side, WRMS was incorporated in 2004 and is primarily engaged in providing agriculture risk management solutions which include weather information and forecast services, agriculture decision support system services, precision farming services, and crop insurance products to farmers.

WRMS provides data analytics services to sectors such as renewable energy. It has recently started projects in Bangladesh, Cambodia and other Asian countries as well. 

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Agro-chemicals major UPL to acquire 40% stake in Brazilian firm Sinagro group

Agro-chemicals major UPL to acquire 40% stake in Brazilian firm Sinagro group

Anuradha Verma 2 years ago
Agro-chemicals major UPL Ltd, formerly known as United Phosphorus Ltd, has agreed to acquire a 40 per cent equity stake in Brazilian firm Sinagro group,...
UPL sells entire stake in Brazilian agrochemical JV for $59M

UPL sells entire stake in Brazilian agrochemical JV for $59M

Bhawna Gupta 3 years ago
Agro-chemicals major UPL Ltd has entered into an agreement with an Italian firm Sipcam SPA (Sipcam) to sell its entire 50 per cent stake in...
Agro-chemicals firm UPL buys remaining 27% in Brazilian arm

Agro-chemicals firm UPL buys remaining 27% in Brazilian arm

Anuradha Verma 2 years ago
Agro-chemicals major UPL Ltd, formerly known as United Phosphorus Ltd, has bought the remaining 27 per cent it did not own in UPL do Brasil...
No Comments

UPL acquires 26% stake in Weather Risk Management

Powered by WordPress.com VIP