City-based TAKE Solutions Ltd will acquire two US-based companies for a total consideration of $72 million (all in cash), including contingent payments subject to certain financial milestones.
In a communication to the Bombay Stock Exchange, TAKE Solutions said it will acquire DataCeutics for $45 million and KAI Research for $27 million respectively.
DataCeutics provides Clinical Data Management services to the pharmaceutical industry. It will strengthen TAKE’s domain strength in data sciences specific to life sciences, and the deal is expected to close by February 2019. DataCeutics reported revenue of $30 million for year ended December 31, 2017, as against $20 million in the previous year.
KAI Research, a full service Clinical Research Organisation and health research company in the life sciences industry, will help TAKE Solutions acquire phase II and Ill capabilities in North America. The acquisition is expected to close by January 2019. For financial year ended December 31, 2017, KRO reported revenue of $10.5 million ($8.9 million), the communication to the exchange said.
Source: The Hindu