The Hindu Business Line : Cognizant buys analytics firm marketRx for $135 m

Chennai, Oct. 19 Cognizant Technology Solutions Corporation has acquired analytics company marketRx Inc for $135 million in cash to expand Cognizant’s life sciences industry offerings. Both are US-headquartered companies with strong offshore presence in India.

marketRx provides analytics and related software services to global life sciences companies in the pharmaceutical, biotechnology and medical devices segments. According to a statement released by Cognizant, the acquisition strengthens Cognizant’s offerings across research and development, manufacturing and sales and marketing operations.

With 430 employees in the US, India and Europe, marketRx has revenues of around $40 million. The company combines analytics, market research and software services to provide web-based solutions for clients in three functional areas: Sales management and operations, brand marketing and product management and market research. It currently services 75 life sciences customers, including all the largest 20 pharmaceutical companies and 4 out of the top 5 biotech companies, the release says. A spokesperson for Cognizant pointed out that client-list combined with Cognizant’s client list of nine of the top 10 global pharmaceutical complemented well. Value for Cognizant also comes in the form of high revenue per employee that marketRx enjoyed, at about $93,000 per employee per annum (while IT software services biggies see between $40,000 and $50,000 per employee per annum seen in IT software services).

In the last one year, companies in the analytics space have been targets for acquisitions.

More Stories on : Software | Mergers & Acquisitions | Off-shore Development

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page