Zensar Technologies Acquires BridgeView Lifesciences for $25 Million

The IT business Zensar Technologies, based in Pune, has announced that it has acquired BridgeView Lifesciences, a consultancy firm specialising in pharmaceutical and life sciences, for a sum of $25 million.

As a result, the company will be able to provide more healthcare options.According to a regulatory filing made to the Bombay Stock Exchange, "the company will make an additional payment of up to $11 million by December 31, 2027, contingent on achievement of performance and employment continuity thresholds, and an aggregate upfront payment of $14 million subject to customary adjustments for working capital, debt, and cash on closing."

"Acquiring BridgeView Lifesciences aligns with our long-term growth strategy for our growing healthcare and life sciences (HLS) practice," stated Anant Goenka, vice-chairman of RPG Enterprises and Zensar Technologies. Through this purchase, we can better serve our current clientele and reach new markets, particularly those neglected by technology—innovators and up-and-coming pharmaceutical companies. It displays our dedication to foreseeing the demands of our clients and the market and offering answers to pressing problems."

Roughly speaking, the purchase should be finished in two to three weeks.The business stated, "By leveraging partnership with Veeva Systems, this acquisition strengthens Zensar's HLS vertical and positions Zensar to offer a more comprehensive suite of solutions to pharmaceutical, biotechnology, and medical device companies."

BridgeView, originally COEUS Solutions, is a technology consulting and system integration company serving the biopharma and life sciences industries.

Additionally, the company sold off its smaller data warehouse and data aggregation product business lately.For the fiscal year ending December 31, 2023, BridgeView's operating revenue was around $12.9 million, of which the services division's revenue was roughly $11 million.

We are pleased to be a part of Zensar. We will be able to provide more solutions and reach a larger audience thanks to its worldwide reach and digital experience. We can more quickly and effectively solve our clients' transformative projects because to this synergy. Together, we have a bright future ahead of us," co-founder and chief operating officer James Corbett and Mihales Karasavas, co-founder and chief commercial officer, BridgeView Lifesciences LLC.