US-based scientific instruments maker PerkinElmer has acquired the 49% stake held by its Indian joint venture partner Labindia Instruments in PerkinElmer India for an undisclosed amount. The 51:49 joint venture was formed three years back and is believed to be clocking revenues of more than Rs 100 crore.
PerkinElmer is engaged in the area of designing, manufacturing, marketing and servicing products and systems for life and analytical sciences and optoelectronics.
The company has just roped in Jay Shankar as the new country head for its wholly owned Indian subsidiary. He was earlier working with Novartis Healthcare where he led its global services organisation.
PerkinElmer India president, Jay Shankar said, “We have a technical support and applications centre which we are planning to expand in a major way.” This is expected to be completed over the next few months.
The Indian subsidiary currently employs about 170 people in Bangalore, Baroda, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, Pune and Thane.
Source : Economic Times