The Hindu : Business : Take Solutions buys two U.S. firms

Online edition of India's National Newspaper
Wednesday, Apr 19, 2006

Business

Business

Take Solutions buys two U.S. firms

Special Correspondent

The all-cash deals are valued at $5.15 m

CHENNAI: Take Solutions, a technology-enabled business solutions company, has announced the acquisition of two companies in the U.S. — OnSphere Corporation and Applied Clinical Intelligence LLC (ACI) — for a total consideration of $5.15 million in all-cash deals.

While OnSphere is engaged in regulatory compliant web-based pharma solutions, ACI provides clinical research solutions to pharmaceutical and healthcare companies.

Take Solutions has bought out fully OnSphere and acquired 51 per cent stake in ACI. The acquisitions are funded partly by internal accruals and partly via debt raised from Yes Bank.

H. R. Srinivasan, Vision Holder of Take Solutions, said the acquisition of OnSphere would help his company enhance its FDA compliant document management systems by complementing its current product offering. Addressing a press conference here on Tuesday, he said OnSphere had deployed solutions throughout the U.S., Canada and Europe.

The acquisition of majority holding in ACI, he said, would beef up the clinical data management, analysis and reporting capabilities of Take Soultions.

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