Through the proposed acquisition, the company aims to expand the business towards new technologies by establishing a radio frequency (RF) and microwave design-cum-production facility along with the integration facility.
Apollo Micro Systems, which caters primarily to defence and aerospace sectors, on Wednesday said it will acquire majority stake in with Ananya SIP RF Technologies (ASIP RF).
The company signed an agreement with ASIP RF in order to acquire 51 per cent equity share capital, Apollo Micro Systems said in a regulatory filing.
Through the proposed acquisition, the company aims to expand the business towards new technologies by establishing a radio frequency (RF) and microwave design-cum-production facility along with the integration facility.
ASIP RF Technologies was incorporated in 2015 with main objects to carry on the business of design, development, manufacturing, servicing and supply of RF, microwave components, subsystems and systems using conventional and low temperature co-fired ceramic technology.
The shares of Apollo Micro Systems closed at Rs 77.90 a piece on BSE, up 2.70 per cent from the previous close.