Zensar Technologies Makes $14 Million Move: Acquires Bridgeview Life Sciences, Hunts For More Deals

New Delhi: Zensar Technologies Ltd is set to acquire BridgeView Life Sciences, an American IT and operations services company, for $14 million in cash, the company announced on Wednesday.

An extra $11 million might be paid by 31 December 2027 if BridgeView meets certain performance and employment targets, according to regulatory filings.

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Services Provided

BridgeView provides advisory, transformation, and managed services, mainly to life sciences clients. They focus on product launches, operational improvement, and M&A consultancy.

This acquisition fits with Zensar’s strategy to close gaps in its portfolio and pursue growth opportunities. It will strengthen Zensar’s healthcare and life sciences division, one of its four business areas, the company said in a statement.

“This is a growth-focused acquisition for us,” said Pratik Maroo, head of healthcare and life sciences at Zensar. “The current size of the business is small compared to the market potential, especially when considering the spending in the pharma and biotech sectors, particularly during product launches.”

More Acquisitions Ahead

Zensar is also planning more acquisitions to grow its businesses across its four main areas, said Anant Goenka, vice-chairman of Zensar. The company has $260 million in cash, mainly for M&As and other expansion activities. Zensar evaluates 100-150 companies annually for growth opportunities, resulting in 2-3 deals each year.

“We are happy to consider two or three acquisitions a year, depending on their size. This (BridgeView) is small. We have a big appetite for more acquisitions.”

RPG Group

The RPG Group, with an annual turnover of $4.8 billion, is also looking for acquisitions in other group companies, including its engineering and construction firm KEC, tyre maker Ceat, and pharmaceuticals firm RPG Life Sciences, Goenka added.

“The domestic formulation market has very high prices and valuations that do not justify an acquisition at current levels,” he said. However, the RPG Group will continue to seek both domestic formulation and API (active pharmaceutical ingredient) makers for acquisition opportunities at the right valuation.