IT firm HCL Technologies has agreed to acquire life sciences and consumer services provider C3i Solutions from US-based drug maker Merck & Co. for $60 million (Rs 390 crore) in cash, the company said in a stock-exchange disclosure.
HCL Technologies will acquire 100% stake in C3i Solutions.
The disclosure said that C3i Solutions’ clinical, sales support, and pharmacovigilance expertise, along with its roster of life sciences clients that include 30 of the top pharmaceutical companies, would boost HCL’s life sciences vertical.
C3i Solutions is the business name of Telerx Marketing, a wholly-owned subsidiary of Merck & Co. The revenue of C3i Solutions stood at $199 million in the year through December 2017. C3i has a workforce of over 3,700 employees across 11 facilities in India, the US, Bulgaria, China, the UK, and Japan.
Recent acquisitions by HCL Tech
In September 2017, HCL Technologies acquired Edinburg-based data management firm Datawave for £7 million (about Rs 58.57 crore) in cash.
In April 2017, it acquired US-based Urban Fulfillment Services LLC for $30 million (Rs 193 crore).