Reliance Industries Ltd has signed a definitive agreement to acquire a majority stake in the US-based SenseHawk Inc for $32 million.
In a regulatory filing late Monday, Reliance Industries said it has inked an agreement to acquire majority stake in SenseHawk for $32 million including funding for future growth, commercial rollout of products, and research and development (R&D).
The turnover of SenseHawk for FY 2022, FY 2021 and FY 2020 was $2,326,369, $1,165,926, and $1,292,063, respectively.
The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed before end 2022.
