Chennai-based Take Solutions has signed a definitive agreement to acquire Bengaluru-based life-sciences service company Ecron Acunova, for ₹115 crore.

This deal will give Take Solutions expertise in biosimilars, regenerative medicine and diagnostic imaging agents space, which are emerging growth areas. It will help enhance presence in Europe and Nordic countries, says a company press release.

Take Solutions has expertise in life sciences and Supply Chain Management (SCM). In the life science domain, it offers IP-based software and knowledge-based solutions to enable efficient clinical, regulatory, safety and content management. In SCM, its product suite includes distinct technology with embedded IP that spans enterprise mobility, trading partner collaboration, and material tracking.

Ecron Acunova, which has presence in the US and Germany, delivers pharmaceutical research services to global clients across South East Asia, Central and Nordic Europe, and North America.

Apart from catering to big pharma clients, it delivers specialised services to small/medium-size biotech and pharma companies in the areas of pharmaco vigilance, regulatory affairs, strategic consulting, clinical data management, and biostatistics and medical writing, says the release.

HR Srinivasan, Vice-Chairman and Managing Director, Take Solutions, said that globally, there is a growing focus on quality, data, analytics and outcomes in the industry, resulting in increased pharma/biotech research and development spending and funding.

This acquisition will enhance the company’s addressable market from $15.9 billion to over $30 billion by 2019.

Both companies’ combined attributes will strengthen Take’s position as a fully ‘integrated differentiated’ life-science service provider to large and small global pharmaceutical companies and broaden the addressable market.

On the BSE, the stock price of Take Solutions closed at ₹180.95, down by 4.91 per cent.

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