Cipla to Acquire 21.85% Stake in GoApptiv for ~$1.2M

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Cipla to acquire 21.85% stake in GoApptiv on a fully diluted basis for ~1.2M (₹9 crores) which included ₹5.80 crores in the first stage and ₹3.20 crores in the second stage. The acquisition will expand the reach of Cipla’s brand in tier three-plus towns
In the first stage, a subscription of 15,392 compulsorily convertible preference shares and purchase of 6,927 equity shares are expected to be closed within 30 days from the execution date while in the second stage, a subscription of 12,314 compulsorily convertible preference shares is expected to close by Oct 31, 2020
GoApptiv offers digital solutions for integrated brand sales management, digital marketing, and channel engagement for pharmaceutical companies and provides digital solutions for customer relationship management, patient support, and healthcare data analytics

Click here to read full press release/ article | Ref: Cipla | Image: ET Healthworld