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Infosys Ltd on Wednesday signed a definitive agreement to acquire Denmark-based BASE life science, a leading technology and consulting firm in the life sciences industry, for up to €110 million (about $111 million).

The acquisition is expected to close during the second quarter of FY23.

“The acquisition reaffirms our commitment to help global life sciences companies realize business value from cloud-first digital platforms and data, to speed-up clinical trials and scale drug development, positively impacting lives and achieving better health outcomes," Infosys said in a statement.

The life sciences vertical contributes 6.6% to Infosys’ total revenues and it grew 16.2% year-on-year in constant currency for the March quarter.

Infosys said BASE will bring “domain experts with commercial, medical, digital marketing, clinical, regulatory, and quality know-how to the company." Backed by a team of data science specialists, BASE has a strong focus on data and artificial intelligence (AI), and the ability to bridge and integrate business logic and technology, driving insights for better health outcomes.

Headquartered in Denmark, BASE has about 200 multidisciplinary industry experts across Denmark, Switzerland, UK, Germany, France, Italy, and a nearshore technology hub in Spain. Together with Infosys, BASE is expected to further expand its portfolio of expertise into Consumer Health, Animal Health, MedTech and Genomics segments. BASE collaborates with leading software technology providers in the life sciences industry such as Veeva, IQVIA and Salesforce.

“This acquisition augments Infosys’ deep life sciences expertise, and expands our footprint further in the Nordics region and across Europe, and scales our digital transformation capabilities with cloud-based industry solutions," said Ravi Kumar S, president, Infosys.

“Over the last five years, BASE life science has delivered tremendous growth, and created a stellar life sciences consulting firm in Europe. With Infosys as our catalyst, we will be able to accelerate our expansion internationally and create development opportunities for our people," said Martin Woergaard, CEO, BASE life science.

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