Take Solutions, a domain-focused technology firm, on Wednesday announced that it has entered into a definitive pact to acquire life sciences services player, Ecron Acunova in a Rs. 115-crore deal.
“We have entered into definitive agreements to acquire a life sciences services player, Ecron Acunova (EA) in a Rs. 115 crore deal. This association will enable us to add expertise in the areas of biosimilars, regenerative medicine and diagnostic imaging agents space which are emerging growth areas,” a company statement said.
Ecron Acunova is a life sciences services firm delivering pharmaceutical research services to global clients across South East Asia, Central & Nordic Europe and North America.
The acquisition will help Take move the addressable market for its services to $30 billion. It will also enhance presence in Europe and Nordic countries, the release said.
Take will now also explore new vistas of the dynamic pharmaceutical, biotechnology, and medical device R&D markets including the areas of biosimilars, regenerative medicine and diagnostic imaging agents.
Take would also be able to expand its IPs in risk-based monitoring and other solutions aimed at bringing safe, effective, and affordable drugs and devices to market.
With this acquisition, the firm will add audit-ready infrastructure in Europe and India, and parts of South Asia to its expanding footprint. The organisation will also augment its pool of subject matter experts by 30 per cent and life sciences talent by 50%, significantly amplifying its experience, innovation and domain expertise, it said.
“Globally, there is a growing focus on quality, data, analytics and outcomes in the industry, resulting in increased pharma/biotech R&D spending and funding. This acquisition will enhance our addressable market from $15.9 billion to over $30 billion by 2019, giving us great headroom for growth,” Take Solutions Vice Chairman & MD Srinivasan H R said.