Monday, March 23, 2009
SBW plans global buy
PUNE: Systems Biology Worldwide (SBW), a bio-informatics company, aims to acquire bio-research companies globally, string them together and move collaborative research to India. SBW is a collaborative venture between the University of Helsinki and the Pune-based ToolTech, formed in 2007. SBW chairman Atul Khanna believes growth will come through acquisitions and hence, in the past two years, SBW has completed five acquisitions and is now gearing up for two more. “We have acquired five small companies and now we are looking at the big ones, an acquisition each in Cambridge and in Munich,” he said.
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My husband's proprietary company, "InSilico Consulting" was acquired by SBW after 4 months of due diligence.
My husband signed a 4 year personal contract .7 employees and a patent, product portfolio in 2009 were part of the deal.
They have not paid a substantial part of my husband's salary for 2 yrs now. They also refused to pay PF and even did not let us know the PF Account details. It made getting another job difficult as SBW also refused to give any other documentation including form16!
He has now sent 2 legal notices to their Finnish CEO who signed the acquisition agreement.
Tooltech, the pune based partner of SBW, has not paid 103 employees their salary dues.
I amgoing to launch an agitation for my husband's rightful salary.
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