TAKE Solutions, a global business technology solutions provider, announced its foray into the big data market for the Life Sciences sector, by setting up Intelent - its new US-based subsidiary, with an initial investment of USD 3 million.

Intelent aims to address the USD 300 billion healthcare and life sciences market by providing clients offerings in the area of data integration and advanced analytics.

Srinivasan H.R, vice chairman and managing director, TAKE Solutions said, ''As domain experts in life sciences, we have understood the specific impact of this trend in business life cycles. There has been a growing importance of mining actionable insights from Big Data for strategic decision making in the life sciences space. This investment goes into areas of analytical data aggregation, mining and visualization. Insights and intelligence derived from fast-moving data sets can help inform strategy decisions, spur innovation, inspire new products, enhance customer relationships and bolster operations.''

Shares of the company gained Rs 6.55, or 5.02%, to trade at Rs 137.10. The total volume of shares traded was 281,766 at the BSE (11.39 a.m., Monday).