Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire US-based KAI Research in an "all cash deal" amounting to USD 27 million
The city-based company, in a filing to stock exchanges said with this acquisition TAKE Solutions acquires Phase II, III capabilities in North America adding to its current service offerings in Europe and Asia.
"KAI strengthens our therapeutic expertise mental health, musculoskeletal diseases and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers," the company said.
US-based KAI Research founded in 1986 offers clinical trial management, data management and standardisation.
"The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial milestones," it said.
KAI Research clocked revenues of USD 8.9 million for the financial year ending December 31, 2016 while it was USD 10.5 million as of December 31, 2017.
Shares of TAKE Solutions Ltd were trading at Rs 148.30 apiece, down by 0.67 per cent in BSE.
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