ScanDron Pvt Ltd now 70% owned by Magellanic Cloud Ltd
- ByStartupStory | March 21, 2023
Scandron Pvt Ltd, a drone manufacturing company, has been acquired by Magellanic Cloud Ltd, a publicly listed company on the BSE, giving the latter a 70% stake in the former. Despite the change in ownership, Scandron’s current management team will remain in charge of the company’s operations and direction.
By entering into a strategic partnership, the two companies aim to strengthen their research and development capabilities and enhance the quality of drone manufacturing in India. Scandron’s goal of developing domestic drone and robot technology aligns with the partnership’s objective of decreasing reliance on imported technology.
With the acquisition by Magellanic Cloud Ltd, Scandron will shift its attention towards improving the performance of drones and robotics in sectors such as aerospace, aviation, logistics, defence, and agriculture. However, the specific amount invested in or cost of the acquisition remains undisclosed at this time.
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