Mumbai: The Mumbai-based Patni Computer Systems Ltd has earmarked $ 27.2 million (about Rs 108.8 crore) in cash for acquiring the New Jersey based Taratec Development Corp. Taratec, a consulting company in the life sciences industry, does more than $20 million (about Rs 80 crore) in annual revenues.
Taratec Development Corp provides integrated business, information technology, and regulatory compliance products and services for clients in the pharmaceutical, medical device and biotechnology industries. The acquisition has been made through Patni Computer Systems Inc., a wholly owned subsidiary of Patni. The acquisition is in line with Patni''s strategy of enhancing its market specific services.
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