Infomedia to buy two firms for $6.5 million

The board of directors of Infomedia India, which met on Monday, approved a proposal to acquire 100 per cent equity in UK-based Keyword group for $3.35 million.

According to a release issued by the company to the Bombay Stock Exchange on Monday, the board also approved the acquisition of Bangalore-based Cepha Imaging for $3.15 million.

"The aggregate amount of investment approved is $6.5 million," the release added. Keyword group holds 49 per cent in Cepha Imaging, and the company will acquire 21 per cent equity of Cepha.

"The investments, including the 100 per cent acquisition of Keyword Group, are likely to be completed with 30 days. The balance 30 per cent equity in Cepha will be acquired over a period of two years," the release added.