TAKE Solutions buys UK's WCI Consulting Group

Chennai-based TAKE Solutions today said it has acquired UK-headquartered WCI Consulting Group through its subsidiary, a move that will help the company establish its presence in the European region.

However, the value of the acquisition was not disclosed.

The acquisition of WCI Consulting will help TAKE Solutions, which has a strong domain expertise in life sciences and supply chain management, establish a presence in Europe, the company said in a statement.

"WCI complements and strengthens our portfolio of offerings to the global life sciences customers," TAKE Solutions President and CEO Ram Yeleswarapu said.

With global biopharmaceutical companies looking at improving productivity and ensuring compliance requirements, the acquisition gains more significance, he added.

The region was previously served remotely from other locations. TAKE Solutions had reported net sales of Rs 117.33 crore in the second quarter ended September 30, 2010.

WCI Consulting is a patient safety and compliance advisor to the life sciences industry.

"We are extremely bullish about this acquisition. WCI has in excess of 10 years of robust professional relationships across Europe and in the US," Yeleswarapu said.

This plugs a major gap in TAKE Solutions' global reach and opens up the European market for us, he added.

DBS Bank India facilitated the transaction.

Shares of TAKE Solutions closed at Rs 33.80 a piece, down 1.6 per cent on the Bombay Stock Exchange.