Strides Pharma Science Limited announced that its subsidiary, Arco Lab Private Limited, has successfully completed the acquisition of the remaining 50% stake in Neviton Softech Private Limited. This transaction, finalized on February 16, 2026, makes Neviton a wholly owned subsidiary of Arco Lab. The deal cost Euro 2 million (~INR 21.77 crores). Neviton specializes in IT services, IoT devices, and real-time data integration, serving as a strategic asset for Arco Lab’s digital transformation objectives.
Acquisition Completion Confirmed
Strides Pharma Science Limited has officially confirmed the final step in acquiring Neviton Softech Private Limited. This was executed through Arco Lab Private Limited, a wholly owned subsidiary of Strides. The acquisition of the final 50% equity interest was effective from February 16, 2026, making Neviton a wholly owned subsidiary of Arco Lab.
Financial Details and Consideration
The consideration for acquiring the remaining 50% stake from UACD (Universal Alloy Corporation Design S.R.L) was a cash payment of Euro 2 million, which equates to approximately INR 21.77 crores. This purchase covered 5,560 Equity shares of Neviton.
Neviton’s Business Profile and Performance
Neviton Softech, incorporated on February 25, 2010, operates in the IT Services and Engineering Solutions sector. Its core specialization includes developing machine interfaces through IoT devices and integrating live data feeds into real-time applications. The entity has operations in both India and the USA.
Key financial summary for Neviton for FY25 shows:
- Turnover: INR 27.08 crores.
- Profit After Tax: INR 4.26 crores.
- Net-worth: INR 25.20 crores.
The turnover history for the last three fiscal years is noted as:
- FY 25: ~INR 27.08 crores
- FY 24: ~INR 28.19 crores
- FY 23: ~INR 24.48 crores
Strategic Rationale for Acquisition
The acquisition is deemed complementary to Arco Lab’s business objectives. Arco Lab was established to drive business and IT transformation, serving as a Global Life Science Capability Centre. By integrating Neviton’s expertise, Arco Lab will be able to offer enhanced knowledge-based IT services, leading to increased scale, scope, and significant internal group cost savings through process digitization.
Related Party Disclosure
From Arco Lab’s perspective, the transaction qualifies as a related party transaction, as the 50% stake was acquired from the existing shareholder, UACD. However, the disclosure confirms that none of the promoters or promoter groups of Strides Pharma Science Limited have any personal interest in this specific transaction.
Source: BSE
