I am pleased to inform you that on Friday the 16th, we closed the deal for the acquisition of a large Hyderabad based campus for our future expansion. The leadership team and I are very excited about this acquisition for it will allow our growth to continue unhindered for several years for want of expansion space. With the expansion of Peenya campus and now this acquisition in Hyderabad, I expect Eurofins Advinus to grow many folds over the future.
The new facilities are located in Genome Valley, Hyderabad, the biotech hub of Telangana. At this time the campus, which is 15 acres in size, has ˜90,000 sq.ft of lab and office space and this will help us start our operations in Hyderabad very soon. Over time we expect the campus built-up space to expand such that it will become another showcase campus for us, in addition to our existing operations in Bangalore.