M&A
Magellanic Cloud buys 70% in drone-maker Scandron for Rs.20 Lakh
Listed company Magellanic Cloud Ltd (formerly South India Projects Ltd) has bought 70% shares of Hyderabad-headquartered Scandron Pvt Ltd (SPL), for a cash consideration of about INR 20 lakh. SPL is engaged in the business of design and manufacture of drones which can be used in varied business and commercial applications. For the months between May 2022 and Feb 2023, SPL posted a turnover of INR 96,47,400. Magellanic Cloud works in the digital space and claims to connect technology and implementation processes, across the world.
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