Cognizant completes acquisition of MarketRx

Cognizant completes acquisition of MarketRx

Chennai: IT major Cognizant Technology Solutions Saturday said it has completed the acquisition of New Jersey-based MarketRx, provider of analytics and related software services to global life sciences companies.

Last month, the company in a statement said it had signed a definitive agreement with MarketRx to acquire it for $135 million in cash, to be funded through its cash reserves.

The acquisition would provide Cognizant access to MarketRx’s 75 customers, it added.

It would strengthen Cognizant’s full suite of offerings across all areas of the life sciences value chain - from research and development and manufacturing to sales and marketing operations, the company said earlier.

“This acquisition expands our capabilities in the analytics segment and broadens our service offerings for the life sciences industry, while providing strong synergies with our existing Business intelligence/data warehousing and CRM services," Cognizant Francisco D’Souza President and CEO said.