Patni Computer Systems Inc., a wholly-owned subsidiary of Patni Computer Systems Ltd, on Monday, announced the acquisition of Bridgewater, NJ-based Taratec Development Corp for an aggregate price of $27.2 million in cash including contingent consideration.

Informing the stock exchange here, Patni said the acquisition is in line with the company’s strategy of enhancing its market specific services and provides additional capability to support the growing end diverse requirements of the Life Sciences market, from pharmacovigilance to demand-driven supply chains. It can now offer a global delivery model that provides end-to-end capabilities complete with established, life science expertise in specific, high-demand areas. “Taratec brings deep domain expertise in the life sciences industry, excellent understanding of the regulated industry, long-term client relationships and a reputation of service delivery in the industry,” Senior Vice President & Head (Manufacturing Practice) Sunil Chitale said.

With more than $20 million in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services, Mr Chitale added. “Their 20 years of Life Science consulting experience, coupled with Patni’s integrated solutions model, strength in Supply Chain and  with a  service delivery model that can support any aspect of their business or technology lifecycle,” he said.