Crompton to buy Ireland's Microsol

Electrical equipment maker Crompton Greaves today said it will acquire Ireland-based Microsol Holdings Ltd for an enterprise value of around euro10.50 million (over Rs 57 crore).

The company has concluded arrangements to acquire Microsol Holdings Ltd together with other companies in the Microsol Group, Crompton Greaves informed the Bombay Stock Exchange.

"This acquisition will increase the company's strengths in the area of high-end engineering and sub-station

automation capabilities," the company added.

MHL is a part of the Microsol Group and has operations in the UK, US and Ireland. It provides sub-station automation for MV and HV to new sub-stations and retro-fitting solutions for existing sub-stations.

The shares of Crompton were last trading at Rs 228.20, up 1.04 per cent, on the BSE.