Patni Computer acquires Life Sciences Services Company Taratec for $ 27 million

Patni Computer Systems Ltd has announced the acquisition of Bridgewater, N.J.-based Taratec Development Corp. through Patni Computer Systems Inc., a wholly Owned subsidiary of the Company, for an aggregate price of $ 27.2 million in cash including contingent consideration. With more than $ 20m in annual revenues, Taratec is a leading consulting Company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.

This acquisition is in line with Patni's strategy of enhancing its market specific services and provides additional capability to support the growing end diverse requirements of the Life Sciences market, from pharmacovigilance to demand-driven supply chains. Patni can now offer a global delivery model that provides end-to-end capabilities complete with established, life science expertise in specific, high-demand areas.

"Taratec brings deep domain expertise in the Life Sciences industry, excellent understanding of this regulated industry, long-term client relationships with the industry's leading Companies and a fantastic reputation of service delivery in the industry," said Sunil Chitale, Senior Vice President and head of the manufacturing practice at Patni. "Their 20 years of Life Science consulting experience, coupled with Patni's integrated solutions model, strength in Supply Chain, Enterprise Applications deployment and Business Process Outsourcing will provide customers with a highly reliable service delivery model that can support any aspect of their business or technology lifecycle."

Source : Equity Bulls

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