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Our Bureau

Chennai , April 18

Take Solutions Ltd, a software products and services provider for supply chain and life sciences companies, announced on Tuesday that it had acquired two US-based software firms.

It has bought 100 per cent stake in OnSphere Corporation for Rs 12.5 crore. OnSphere's PharmaReady software manages the entire data and documentation relating to getting drug approvals from authorities such as the US's FDA. It has about 20 clients in the US.

In Applied Clinical Intelligence, Take Solutions has picked up a 51 per cent stake for Rs 11 crore. Applied Clinical provides clinical research solutions to pharmaceutical and healthcare companies.

The turnover of the two companies last year was Rs 27 crore. The consideration will be paid in cash.

The acquisitions are funded by a loan from Yes Bank.

At a press conference here, Mr H.R. Srinivasan, founder of Take Solutions, said that the acquisitions would strengthen the company's standing in the life sciences space.

Take Solutions' turnover for 2005-06 is expected to be around $20 million (Rs 90 crore), with supply chain and life sciences contributing 46 per cent each. The rest of the revenues are from supply chain consulting.

Mr Srinivasan, who ruled out any IPO for Take Solutions, said the company targeted a turnover of Rs 200 crore for the current year.

He said that the company intended to market its SCM product, Take RTE, in the US from the current year.

Till now, it was marketed mainly in South East Asia, he said.

More Stories on : Mergers & Acquisitions | Software

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