Feb 6, 2007
Moser Baer buys Philips' optical tech unit OM&T
Moser Baer India (MBI) is acquiring OM&T, a specialized optical R&D technology company, which currently is a 100% subsidiary of Philips.
According to an official release issued by Moser Baer to the BSE today, it today signed a definitive agreement with Philips for the purpose.
"This acquisition is a major strategic milestone for the Moser Baer as we implement our strategy to be at the forefront of technology in both the optical and solar photovoltaic (PV) segments." Ratul Puri, executive director, Moser Baer, said.
This acquisition will complement the existing cutting edge technology research being done in Moser Baer's R&D centre in India and help it to further consolidate its position in the optical media market . According to the agreement, all IP created by OM&T will be transferred to it. The JV will also focus on development of photovoltaic technologies to support its PV business, the release said.
Girth Baluja, COO(blank optical media), Moser Baer said: "OM&T brings to MBI not only its state-of-the-art Blu-ray disc testing and manufacturing capabilities, world class mastering and stamper making expertise, test and professional discs opportunities but also a pool of highly qualified scientists and engineers. This talented pool will augment Moser Baer’s capabilities in the areas of optical media, PV and beyond."
BUY : MOSER BAER -- TARGET -- 450 + ( Short term )