TAKE Solutions, a global business technology solutions provider, today announced that the company has entered into definitive agreements to acquire Ecron Acunova, a life sciences services player for Rs 1.15 bn.

With this acquisition, the company will add audit ready infrastructure in Europe and India, and parts of South Asia to its expanding footprint. The organization will also augment its pool of subject matter experts by 30% and life sciences talent by 50%, significantly amplifying its experience, innovation and domain expertise.

In addition, the full service capability along with expanded infrastructure will allow TAKE to service the mid-market as well. This association will enable the company add expertise in the areas of biosimilars, regenerative medicine and diagnostic imaging agents space which are emerging growth areas.

Srinivasan H.R., vice chairman et managing director, TAKE Solutions said, "Globally, there is a growing focus on quality, data, analytics and outcomes in the industry, resulting in increased pharma/biotech RECD spending and funding. This acquisition will enhance our addressable market from USD 15.9 billion to over USD 30 billion by 2019, giving us great headroom for growth."

The acquisition will help the company move the addressable market for its services to USD 30 billion. It will also significantly enhance presence in Europe and Nordic countries.

Shares of the company declined Rs 8.05, or 4.23%, to settle at Rs 182.25. The total volume of shares traded was 365,514 at the BSE (Wednesday).