Business Update24 Aug 2024, 12:18 am
Hercules Hoists Ltd Subsidiary Acquires Intellectual Property Rights from Consolidated Hoists for Rs. 4.625 Crore
AI Summary
Hercules Hoists Ltd announced that its wholly owned subsidiary, Indef Manufacturing Limited, has signed an Intellectual Property Rights (IPR’s) purchase agreement with Consolidated Hoists Private Limited (CHPL). The agreement aims to acquire the ‘Swift’ trademark, domains, designs, and any other related data of their hoists, crane, and its service business. The deal is a lumpsum fee of Rs. 4.625 Crore. No governmental or regulatory approvals are required for the acquisition.
Key Highlights
- Hercules Hoists Ltd subsidiary, Indef Manufacturing Limited, acquires IPR from Consolidated Hoists Private Limited.
- The acquisition includes the ‘Swift’ trademark, domains, designs, and any other related data of their hoists, crane, and its service business.
- The deal is a lumpsum fee of Rs. 4.625 Crore.
- No governmental or regulatory approvals are required for the acquisition.
- The acquisition is expected to expand the market reach of Hercules Hoists Ltd's hoists and crane business.