HCL Technologies acquires C3i Solutions for $60 million
HCL Technologies has acquired C3i Solutions for $60 million, a move aimed at accelerating the Indian IT firm’s growth in life sciences and consumer services
New Delhi: Software services firm HCL Technologies has acquired C3i Solutions for $60 million, a move aimed at accelerating the Indian IT firm’s growth in life sciences and consumer services. C3i Solutions is a wholly owned, independently operated subsidiary of Merck & Co, (known as MSD outside the US and Canada).
It provides multi-channel customer engagement services for life sciences and consumer packaged goods (CPG) industries. “With this acquisition, HCL will complement its broad-based IT and business services capability with the additional depth that C3i has in the life sciences and CPG verticals,” the country’s fourth largest software firm HCL Technologies said in a statement.
C3i’s expertise in the clinical, pharmacovigilance, and pharma sales support domains and the strong partnership will enable HCL’s life sciences customers to become more patient-centric and offer services to IT and business stakeholders, it added.
“C3i’s capabilities provide HCL with an innovative and complementary services portfolio and a vast customer base to further strengthen HCL’s position as a leading technology solutions provider to the life sciences and consumer industries,” HCL Technologies president and chief executive office C. Vijayakumar said.
According to a regulatory filing, HCL Technologies, through its step down subsidiary—HCL America Inc—will acquire 100% stock of Telerx Marketing that operates as C3i Solutions. C3i’s revenue for the financial year ended 31 December 2017 stood at $199 million. It has over 3,700 people located in the US, India, Bulgaria, China, UK, and Japan.