In order to widen the reach in the tier three-plus towns, a pharmaceutical company, Cipla, has decided to acquire a 21.85 per cent stake in GoApptiv Private Limited, a digital solution providing company. This acquisition will be in two phases — Rs 5.80 crore will be paid in the first phase and Rs 3.2 crore in the second phase.
Through equity investment, Cipla will strengthen its partnership with GoApptiv so as to enable the widening reach of its key brands in the tier three-plus towns through GoApptiv's solutions for end-to-end brand marketing and channel engagement.
In the first phase, Cipla will acquire 15.26 per cent stake and complete the stake acquisition of 21.85 per cent in the second phase.
This transaction is expected to conclude by October 31, 2020.
The digital solution provider offers integrated brand sales management, digital marketing, and channel engagement for pharmaceutical companies. It also provides digital solutions for customer relationship management, patient support and data integration, artificial intelligence/machine learning-based healthcare data analytics.
This company has recorded revenue of Rs 19.03 crore for the financial year ending on March 31, 2020; Rs 2.48 crore for the financial year ending on March 31, 2019; and Rs 1.23 crore in the financial year ending March 31, 2018.