Clarivate Analytics plc, a global leader in providing trusted insights and analytics to accelerate the pace of innovation, announced it has completed its acquisition of Decision Resources Group. Previously, Clarivate announced its intent to acquire DRG from Piramal Enterprises Limited, part of global business conglomerate Piramal Group.
As per Piramal Enterprises’ exchange filings, the company said, “The transaction has closed on February 28, 2020, and the company has received the consideration amount of USD 900 million pursuant to the closing. The remaining USD 50 million would be received at the end of 12 months from the closing as per the agreed terms.”
“We are excited to welcome DRG’s colleagues to Clarivate and begin to roll out the many benefits of this acquisition to customers and colleagues alike,” said Jerre Stead, Executive Chairman and CEO of Clarivate. “People are our only sustainable competitive advantage and both organizations are built on amazing people with deep industry, subject matter and technical expertise. We will move quickly and smoothly to integrate DRG with our Science Group. For customers, the combination of DRG’s services and solutions with Clarivate’s Life Sciences solutions, including Cortellis, will help customers make smarter, faster evidence-based decisions to boost clinical and commercial success.”
DRG is a premier provider of high-value data, analytics and insights products and services to the healthcare industry. DRG specializes in enabling the world’s leading pharma, biotech and medical technology companies to achieve commercial success in complex health markets with the creation of effective patient-centric commercial strategies.
Recently, Piramal Asset Management Private Limited and Caisse de dépôt et placement du Québec (CDPQ) partnered to deploy $300 million in India, providing private credit financing opportunities in the country.
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