IT services vendor Cognizant Technology is looking to upgrade its capabilities in the life sciences segment by acquiring New Jersey-based marketRx, provider of analytics and software services to global life sciences companies, for $135 million, according to a report in the Indian trade journal
Business Standard.
"The company has signed the agreement to acquire marketRx in an all-cash deal. The transaction may be concluded in the fourth quarter of 2007. The acquisition will be funded through the company’s current cash reserves."
The acquisition "expands our capabilities in the analytics segment and broadens our service offerings in the life sciences industry, while providing strong synergies with our existing business intelligence/data warehousing and CRM services,” said Francisco D’Souza, president and chief executive officer of Cognizant.
The acquisition will bring in a client base of 75 life sciences customers, including the 20 largest pharmaceutical companies and four of the top five biotech companies, Cognizant officials say.
This summer Cognizant joined the list of premier sponsors of BPT Partners’ CRM Certified Seminars in Applied CRM Strategy and Social Media and CRM 2.0.
BPT Partners, founded by Bruce Culbert and CRM legend Paul Greenberg, delivers best-of-breed CRM certification training, consulting, research and resources to the Global 2000. BPT is the only authorized organization offering professionals CRM Certification endorsed by the National CRM Association, CustomerThink (formerly CRMGuru.com), Rutgers’ University Center for CRM Research in the U.S., Greater China CRM and the CRMA-Japan in Asia Pacific.
Bruce Culbert, managing director of BPT Partners, said Cognizant’s track record and commitment to customer success is "stellar," adding "we are honored to have them among BPT Partners’ premier sponsors promoting today’s CRM industry standards."
At the end of last year, crediting demand for the company's CRM and ERP products, among others, Cognizant Technology Solutions Corporation announced its financial results for the three and nine months ended September 30, 2006.
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David Sims is a contributing editor for ContactCenterSolutions. To see more of his articles, please visit his columnist page.