TAKE Solutions to acquire US company Ecron Acunova

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Consulting and enterprise solutions company TAKE Solutions Ltd on Wednesday announced that it has entered into an agreement to acquire the Bengaluru-headquartered Ecron Acunova for Rs.115 crore.

In a statement issued here, TAKE Solutions said Ecron Acunova was in the life sciences service space.

"This association will enable TAKE add expertise in the areas of Biosimilars, Regenerative Medicine and Diagnostic imaging agents space which are emerging growth areas. This will help TAKE move the addressable market for its services to $30 billion. It will also significantly enhance presence in Europe and Nordic countries," the statement added.

"Globally, there is a growing focus on quality, data, analytics and outcomes in the industry, resulting in increased pharma/biotech R&D spending and funding.

"This acquisition will enhance our addressable market from $15.9 billion to over $30 billion by 2019, giving us great headroom for growth," H.R. Srinivasan, vice chairman and managing director, TAKE Solutions was quoted as saying in the statement.