Millennium Post

TAKE Solutions to acquire US-based firms for $72 mn

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

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

"KAI (Research) strengthens our therapeutic expertise mental health, musculoskeletal diseases 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 $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 $45 million.

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

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