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Waltham, MA-based Parexel International, which provides information technology and clinical support services to the biotech industry, announced today that it was acquiring Horsham-based Liquent, a global provider of Regulatory Information Management (RIM) solutions, for $72 million. Liquent was acquired from PE firm Marlin Equity Partners, which had in turn acquired it from Thomson Reuters in 2010.
Parexel said in a statement that it expects Liquent to enhance services provided by its Perceptive Informatics unit, which has offices in Wayne, Pa and East Windsor, NJ dating back to Parexel's 2008 acquisition of UK-based ClinPhone for approximately $180 million. ClinPhone became part of Perceptive Informatics.
Liquent was founded in 1994 and has almost 300 employees, Parexel said. The company has offices in the United Kingdom, Germany and India in addition to Horsham. Liquent competes to varying degrees with other area firms such
as NextDocs and Octagon Research Solutions (recently acquired by Accenture) which develop IT solutions that help streamline the regulatory approval submission process for drug developers.
In issuing adjusted guidance, Parexel said it expected Liquent to contribute "between $17 and $23 million in service revenue during the second half of Fiscal Year 2013". Parexel expects its total revenue to be in the range of $1.675 to $1.695 billion for Fiscal Year 2013 in its entirety.
Rick Riegel is Liquent's current CEO. Parexel's announcement did not address future