Avendus advises Take Solutions, in its acquisition of UK based WCI Consulting Group.

Service

Mergers & Acquisitions

Sector

Digital & Technology

Date

January 2011

Deal Value

Undisclosed

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TAKE Solutions (BSE: 532890), the international business technology company with products and solutions backed by a strong domain expertise in Life Sciences and Supply Chain Management has announced its acquisition of UK headquartered WCI Consulting Group. TAKE has been looking to establish a greater capability in Patient Safety and to establish Business Consulting capability to complement its portfolio of IP based business solutions and services. The acquisition of WCI Consulting also establishes a presence in Europe for TAKE, a market previously served remotely from TAKE's established geographies.

Avendus Capital advised Take Solutions on this transaction.

WCI Consulting is a leading Patient Safety and Compliance advisor to the Life Sciences industry. WCI also founded pvnet® and pvconnect®, the industry's primary forums for Patient Safety, which has been shaping the industry's approach to pharmacovigilance over the last 10 years.

Commenting on the acquisition, Mr. Ram Yeleswarapu, President & Chief Executive Officer, TAKE Solutions said, “We are extremely bullish about this acquisition. In addition to extensive life sciences and pharmacovigilance domain expertise, WCI brings with it in excess of 10 years of robust professional relationships across Europe and in the USA. This plugs a major gap in TAKE Solutions' global reach and opens up the European market for us.”

Aashish Bhinde, Executive Director at Avendus said, “TAKE has been leading the charge in delivering cutting edge solutions to clients in the Life Sciences and Supply Chain Management domain in the Pharmaceutical, Manufacturing and High tech industries. The acquisition of WCI provides it a platform for growth in Europe by bringing on board a strong leadership team with a successful track record and long standing client relationships in the Pharmaceutical industry. This transaction also marks the 6th IndoEuropean transaction concluded by Avendus in the current fiscal, which stands testament to the growing strategic importance of Europe as a region to Indian businesses and vice-versa.”

About TAKE Solutions

TAKE Solutions is an international business technology company with products backed by a strong domain expertise in Life Sciences and Supply Chain Management. With extensive technology expertise in Business Intelligence and Business Process Management, TAKE's track record in delivering world-class solutions throughout global markets is well proven. Technological innovations have always been the driving force of the company, which in turn helps TAKE's customers achieve consistent growth in business. Headquartered in Chennai, TAKE primarily drives its SCM Domain Excellence Centre and Global Delivery Centre from India and Middle East. The Company has a strong presence in the USA with the Life Sciences Domain Excellence centre located in Princeton, New Jersey. The Company conducts business today with more than 400 customers worldwide.

For further details please visit www.takesolutions.com 

About WCI Consulting Group

WCI Consulting Group is a leading Life Science consulting company focused on patient safety, risk management and quality & compliance. By leveraging best practices in process and technology, the subject matter experts at WCI work with a wide range of pharmaceutical, biotechnology, consumer health, medical device, and dietary supplement organizations, helping implement solutions which assure compliance and boost performance. WCI also has a strategic alliance with Sidley Austin LLP, the leading provider of legal services in drug safety in the USA, EU, and China. The company was founded in 1986 and is head quartered in Hampshire in the United Kingdom.

For further details please visit www.wcigroup.com 

About Avendus Capital

Avendus Capital (Avendus) is a leading financial services firm with a strong transaction record and established relationships with companies and investors. Avendus has been consistently ranked among the top-five corporate finance advisors in India. The firm is also a leading syndicator of private equity deals in India. Avendus uses its unique domain and industry-focused approach in businesses such as M&A advisory, private placements for growing companies, structured finance advisory, equity capital markets, institutional broking, alternative asset management and wealth management. Avendus has emerged as the advisor of choice for cross-border M&A deals—23 Indo-US and Indo-Europe deals—in the past three years. Headquartered in Mumbai, Avendus has offices in New Delhi, Bangalore, New York and London.

For more information, please visit www.avendus.com 

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