IT solutions provider Instem has acquired one of its competitors in a deal worth £11.4 million.
The Staffordshire-based business has taken over life sciences software company PDS Pathology Data Systems Ltd.
Headquartered in Switzerland, and with offices in the United States and Japan, PDS has been a direct competitor of Instem for more than 25 years.
All of its 35-strong workforce will now be fully integrated into the Instem business, increasing Instem’s operational capacity, particularly in the United States, Swiss and Japanese markets.
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Instem says the acquisition will enable it to strengthen its relationships with joint clients – as 70 per cent of PDS’ top 20 clients are already clients of Instem.
The deal will also broaden the company’s customer base, provide opportunities for the cross-selling of the wider Instem product and service portfolio, and enable the company to enhance the development and delivery of existing and new solutions.
Phil Reason, CEO of Instem, said: “We are delighted to have completed our third acquisition of 2021 which, along with the company’s strong organic growth, ensures that Instem is positioned as the foremost authority and driving force in generating, analysing and leveraging data from discovery through late-stage clinical trials.
“We have known the team at PDS for many years and are well aware of their industry standing. We have spoken on several occasions about a potential combination and are delighted that they have agreed to join us at Instem, at a time when both of our businesses and the life sciences market are thriving.
“We look forward to integrating the business and benefiting from the scale and increased reach that will further cement our leading market position.”
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PDS CEO Vicente Nogués said: “This was a natural next step in our quest to help clients do more and go further than ever before.
“Our mission, values and overall company cultures are aligned very well – which was the highest of priorities for PDS.
“As part of Instem, our clients will now have access to the most comprehensive range of solutions found in the market today backed by excellent customer service, while our staff will enjoy additional opportunities for professional growth.
“Together, we are looking forward to advancing the ever-important mission of helping clients to bring their life enhancing products to market faster.”
Instem, whose UK headquarters are based in Stone, is a leading provider of IT solutions and services to the global life sciences market.
The PDS deal is the third acquisition made by the company so far this year and comes after Instem acquired discovery software solutions provider The Edge and clinical trial technology business d-Wise Technologies in March.