Indian IT company Patni acquires Taratec

PRLog (Press Release) – Indian IT company Patni Computer Systems (Mumbai) has acquired US regulatory consultancy Taratec Development for $27.2 million in cash, including contingency payments. Patni made the acquisition through its US subsidiary in Cambridge, Massachusetts.

Taratec, which has annual revenues of some $20 million, provides business, IT, regulatory compliance, pharmacovigilance and drug safety services to pharmaceutical, medical device and biotechnology companies across all stages of the drug lifecycle. Its headquarters are in Bridgewater, new Jersey and it has an operations office in Guaynabo (near San Juan), Puerto Rico.

Patni, which already services clients in the pharmaceutical industry, said the move was part of its strategy to develop specialised services in life sciences among other key industry sectors. Patni has annual revenues of $579 million and 21 offices in the Americas, Europe and Asia-Pacific. Article submitted by www.jobs4dd.com