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TAKE Solutions to acquire US-based firm in "all cash deal"

Press Trust of India  |  Chennai 

: Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire US-based in an "all cash deal" amounting to USD 27 million

The city-based company, in a filing to stock exchanges said with this acquisition TAKE Solutions acquires Phase II, III capabilities in adding to its current service offerings in and

"KAI strengthens our therapeutic expertise mental health, and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers," the company said.

US-based founded in 1986 offers clinical trial management, and standardisation.

"The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial milestones," it said.

clocked revenues of USD 8.9 million for the financial year ending December 31, 2016 while it was USD 10.5 million as of December 31, 2017.

Shares of were trading at Rs 148.30 apiece, down by 0.67 per cent in BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 11 2019. 16:40 IST