Infosys plans to expand its Europe & life sciences business
Bengaluru-headquartered Infosys recently announced the acquisition of Denmark-based life sciences company BASE. The company has said the acquisition is planned to expand the life sciences portfolio.
“Lifesciences is a high-end area. This segment is quite strong for the future and is currently underweight in percentage terms. We want to expand it,” the company’s management said in its Q1 FY23 earnings call.
The life sciences vertical contributes around 6.5% of the total revenues, with $291 million as the revenue from the vertical.
On July 13, 2022, Infosys Consulting Pte. Ltd (a wholly owned subsidiary of tech-giant Infosys Limited) entered into a definitive agreement to acquire BASE life science A/S, a consulting and technology firm in the life sciences industry in Europe, for a total consideration of up to EUR 110 million (approximately Rs 906 crore).
The company went on to state that one of the reasons it wanted to acquire BASE was to get deeper into Europe. “We have an expanded focus on Europe and Denmark, and all the Scandinavian market is strategic for us,” Infosys’ management said in the earnings call.
Europe as geography contributed $1.11 billion to the company’s revenue. The acquisition of BASE is the second in Europe for Infosys this year. Earlier this year, Infosys acquired Germany-based digital marketing, experience, and commerce agency Oddity.
The Copenhagen-headquartered company works with leading software technology providers in the life sciences industry, such as Veeva, IQVIA, and Salesforce.
The BASE has about 200 multidisciplinary industry experts across Denmark, Switzerland, the UK, Germany, France, Italy, and a nearshore technology hub in Spain. Together with Infosys, BASE is expected to expand its expertise portfolio into Consumer Health, Animal Health, MedTech, and Genomics segments.
BASE Life Science specializes in several domains within life sciences, including commercial, medical, marketing, clinical, regulatory, and health & quality. It works for clients in consumer health, animal health, MedTech, and genomics.