Molecular Connections to acquire firm in Europe

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The company provides database products to pharmaceutical companies for drug discovery and development. Betting big on the transition taking place in the global pharmaceutical industry, the company is now looking to grow through both inorganic and organic routes. Molecular Connections is a joint venture between Idea2solutions, a venture capital arm promoted by the founders of Dr Reddy's group and a bioinformatics research centre in Singapore. The mid-sized company has on its rolls about 200 employees with expertise in drug discovery, informatics and information technology.

With a view to gain newer customers and market access in Europe and Japan, Molecular Connections, headquartered in Bangalore, is planning to acquire a firm in Europe. The European firm, employing around 200, is a provider of bioinformatics for customers mainly in Europe and Japan. The deal, involving 100 per cent buyout of the European firm, would cost about $10 million to Molecular Connections. Molecular Connections has its corporate and development centre in Bangalore and a marketing office in London. It has its distribution network in Japan, the USA and Germany. The company is also planning to invest about $3-4 million to facilitate its growth through the organic route. It involves setting up offices in Europe and the US this year and opening a development centre in Singapore.

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Comments

Thoughtfully Blond said…
This comment has been removed by the author.
July 8, 2008 at 11:04 PM
Thoughtfully Blond said…
Who is the European company? Genomatrix?
July 8, 2008 at 11:04 PM
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