The Hindu Business Line : Take Solutions hopes to treble turnover

Take Solutions, a software products and services provider, hopes to triple its turnover to $ 60 million (Rs 270 crore) for the year ending March 31, 2007, according to its Managing Director, Mr Sridharan Sivan.

The Singapore-based company with development centres in India, focuses on areas such as supply chain and life sciences. It plans to double its manpower to about 1,000 in the next six months, he told Business Line.

Acquisitions, especially in the life sciences sector, in the recent past would help such a growth, he said.

In April, Take Solutions 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 FDA. It has more than 20 clients in the US.

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

The acquisition of the two American companies was funded by a loan from YES Bank to the tune of $ 4.45 million (Rs 20 crore), Mr Sivan said.

Take Solutions, which has about 130 clients, plans to offer its supply chain management solution to companies in retail, engineering and automotive sectors. The company demonstrated its expertise in fast moving consumer goods and the food and beverage industries with its solution, he said.