Calcutta, Feb. 6: Moser Baer India will acquire optical research and development company OM&T BV, a wholly owned subsidiary of Philips, for an undisclosed sum.

The company has entered into an agreement with Philips for the acquisition, Moser Baer has informed the Bombay Stock Exchange.

“This acquisition is a milestone for Moser Baer as we implement our strategy to be at the forefront of technology in both the optical and solar photovoltaic segments,” company executive director Ratul Puri said.

According to the agreement, all intellectual property of the Dutch firm will be transferred to Moser Baer. The joint venture will also focus on developing photovoltaic technologies to support Moser Baer’s business.

Nic Kramer, senior vice-president, corporate investments, Philips International, said, “This is a synergistic move. I am sure that Moser Baer’s high technology manufacturing competencies along with OM&T’s R&D capabilities will ensure that we see innovative products in the immediate future.”

Moser Baer said the acquisition would complement the technology research being conducted in the company’s R&D centre in India and would help the global number two player in the optical media market to further consolidate its leadership position.

OM&T has been instrumental in developing new optical media solutions and technologies creating new markets via global standardisation.

It is the only firm outside Japan, which is shipping Blu-ray discs. Moreover, its work in Blu-ray would jumpstart Moser Baer’s objective of being among the first few global manufacturers of the Blu-ray disc.

The agreement would also help Moser Baer leverage OM&T’s mastering and stamper making capabilities.