Bilcare arm buys Singapore firm for S$19.5mn

Bilcare Singapore, a wholly owned subsidiary of Bilcare, has bought 100% of Singular ID, a provider of integrated high technology enterprise brand security system, for a consideration of Singapore $ 19.58 million (approximately Rs 53.6 crore).

Creating and developing innovative and viable anti-counterfeit technologies and products has been one of the core research initiatives at Bilcare. This acquisition underlines the importance that Bilcare places on offering state-of-the-art anti-counterfeit solutions, more particularly in the form of end-user oriented and fully-integrated systems.

"With counterfeit products not only affecting trust and safety of the consumer, but damaging the reputation and bottom line of the industry as well, there has been a dire need for a robust and scalable anti-counterfeit solution. I am delighted to bring Singular ID into the Bilcare group and greatly strengthen our vital product offerings", Mohan Bhandari, CMD, Bilcare, said.

Bilcare Singapore provides integrated packaging solutions, including research services, clinical trial services and production of packaging materials.