Jain Irrigation Systems (JISL) is going to acquire 80 percent stake in two entities in the US with an investment of USD 48 million.

It has said in a BSE filing that JISL will acquire the two micro-irrigation companies through its multi-generation wholly-owned subsidiary in US.

JISL has said that the two micro-irrigation dealers, Agri-valley Irrigation Inc (AVI) and Irrigation Design and Construction Inc (IDC), have entered into an agreement with JISL to merge ownership of their businesses into a newly formed distribution company.

This new organization will be providing a platform to help growers implement irrigation technology.

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