Cerebra Integrated Technologies, leading total IT Solutions provider, has signed a Share Purchase Agreement (SPA) with Singapore based Enviro-Hub Holdings (SGX Listed) to acquire 100% of its wholly owned subsidiary, Cimelia Resource Recovery Pte, Singapore. The company will be investing approximately $ 20 Million (approximately Rs 110 crore ) for the proposed acquisition.
With this deal, Cerebra will become one of the first Global Indian MNCs in the area of Waste arising from Electronics and Electrical Equipment (WEEE). Globally, this industry is estimated to be around $ 20 billion currently. E-Waste is one of the fastest growing industries worldwide. In India the market is estimated to be $ 2 billion and is growing at approx 25% year on year.Through this deal, Cerebra proposes to acquire the technology, know-how and global expertise that Cimelia has garnered over about 9 years in the Electronic waste (E-Waste) management industry. Cimelia also brings with it strong client relationships with global giants.
The proposed plant will be set-up with an Investment of $10 million at, Bangalore. Cerebra's experience in hardware will enable it to get more value out of the E-Waste. Cerebra first re-furbishes E-Waste and sells the computers/mobiles in the second hand market. All other E-Waste will be processed at its proposed end-to-end integrated e-cycling plant spread over approx 1, 00,000 square feet.
| Company Name | CMP |
|---|---|
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| Adani Enterprises | 2256.70 |
| Amrapali Industries | 17.30 |
| Rashi Peripheral | 473.55 |
| PDS | 288.85 |
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