BIZ-TAKESOLUTIONS

TAKE Solutions to acquire US-based firm in "all cash deal"

Chennai, Jan 11 (PTI): 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.