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Bilcare buys out Singular ID
08
Jan '08
Singular ID, the provider of the integrated high technology enterprise brand security system called enxure, announced that during December 2007 it was acquired by Bilcare Singapore Pte Ltd for SGD 19.58 million.

Bilcare Singapore is a wholly owned subsidiary of Bilcare Limited, a leading pharmaceutical packaging company offering research services, clinical services and packaging materials to hundreds of global customers. Bilcare is listed on the Mumbai Stock Exchange in India.

Singular ID spun off from the Institute of Materials Research and Engineering, Singapore, in June 2005, and with venture capital backing has grown to operate out of Singapore and Italy delivering award winning technology to customers in the fashion and automotive sectors.

Following the acquisition, the founding directors of Singular ID, Dr Adrian Burden and Dr Peter Moran, will continue to hold positions on the Board and to run the company as Chief Executive Officer and Chief Technology Officer respectively. “This acquisition by a strong corporate entity is excellent news for Singular ID and its first rate team” stated Dr Burden.

“We are now in a position to work as part of a global leader in the pharmaceutical sector to tackle the problem of counterfeit medicines and create a real impact in this high volume business. In addition, Bilcare have aligned with our vision to be the de facto anti-counterfeiting and track-and-trace solution provider in a number of key sectors, and so we remain committed to build significant value in our business beyond the pharmaceutical sector.”

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