Bilcare buys Singapore's Singular ID

MUMBAI: Bilcare Singapore, a subsidiary of Bilcare Ltd, has bought 100 per cent of Singular ID for Singapore $19.58 million.

Singular ID provides integrated high technology enterprise brand security system.

Creating and developing anti-counterfeit technologies products has been one of the core research initiatives at the company. 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," said Mohan Bhandari, chairman and managing director of Bilcare.

At 12:13 pm, Bilcare shares were down 0.49 per cent at Rs 1,665 on BSE.