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TAKE Solutions to acquire US-based firms in 'all cash deal'

Press Trust of India  |  Chennai 

: Life sciences and supply chain management provider Friday said it would acquire two US-based entities in "an all cash deal" amounting to USD 72 million.

The city-based company, in a filing to stock exchanges said with the acquisition of Research, it would acquire Phase II, III capabilities in adding to its current service offerings in and

"(Research) 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 om a BSE filing.

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

In another notification, the company said, it would acquire clinical functional service provider DataCeutics, a US-based firm in an all cash deal amounting to USD 45 million.

"The acquisition is expected to close by February 2019, subject to customary closing conditions," it said.

The deal strengthens TAKE Solutions' domain strength in data sciences specific to life sciences enabling us to partner with our clients providing much value additions.

"This acquisition also adds to the depth of our top pharma relationships in the US geography," the company said.

Shares of ended at Rs 148 apiece, down by 0.87 per cent over the previous close 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. 19:15 IST