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News >> Technology >>
Chennai-based Take Solutions acquires NJ firm
By siliconindia staff writer
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Tuesday, 19 October 2004, 19:30 IST
CHENNAI: Technology-enabled business solutions firm Take Solutions on Monday announced the acquisition of New Jersey-based data warehousing and business intelligence company cliMetrics for $3 million in a stock-cum-cash deal.
The Chennai-based Take Solutions, which has 300 employees, will retain all the 40 employees of cliMetrics, assisting the company to enter the large North American markets, founder and 'vision holer' of Take Solutions Srinivasan HR said at a press conference.
The deal involves 25 per cent cash component and 75 per cent payout as stocks in Take Solutions.
Take Solutions, which reported sales of $3.42 million in the year ended March 2004, hopes to promote its flagship product Take RTE (real-time enterprise enabler) among cliMetrics' clients in pharmaceutical industry, he said.
"Both companies have product and intellectual property right development in focus. The acquisition enhances the vertical expertise for RTE as well as geographical coverage and real for all Take Solutions products and BPO capabilities," he said.
Srinivasan said Take Solutions will further invest about $5 million in the US markets in the next two years to further its business in the North American markets.
The $3 million turnover company cliMetrics assists life science companies on decision making process in drug development through data inputs.