8K Miles Software Services, which announced acquisition of US-based NexAge Technologies on Friday, believes that the acquisition will expand its cloud service offering to its pharma customers and will strengthen its services portfolio.
"NexAge has lot of domain expertise, which is complementary to our pharma cloud solutions. This (acquisition of NexAge) extends our overall offering," 8K Miles Chairman and Chief Executive Suresh Venkatachari told NDTV.
Mr Venkatachari said, "Healthcare or pharma companies are not migrating fully into the cloud because they are always concerned about the data security, privacy, compliance and audit and various governance issues."
NexAge, which specialises in providing computer validation system, quality review, data analytics that qualify for drug testing process, can help address some of these concerns, he added.
8K Miles bought NexAge for $3 million and expects to fund the acquisition through internal accruals.
Over the past 12 months, 8K Miles has acquired three firms in the health and pharma space alone. Earlier this year, it had acquired the US-based Cintel Systems, Canada-based Mindprint and another US-based firm SERJ Solutions to strengthen its portfolio in the fast-growing life sciences sector.
8K Miles shares ended 2.28 per cent higher at Rs 1,429.1 apiece compared to 0.06 per cent fall in the broader Nifty.
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