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Clarivate Analytics to Acquire Decision Resources from Piramal Enterprises
Wednesday 22 January 2020

22 January 2020 - US-based insights and analytics provider Clarivate Analytics plc (NYSE: CCC) has agreed to acquire healthcare-focussed Decision Resources Group (DRG) from India-based Piramal Enterprises Ltd. (PEL) (NSE: PEL) (BSE: 500302), to expand life sciences services and solutions portfolio, the company said.
The USD 950m purchase price includes USD 900m in cash and approximately USD 50m in Clarivate ordinary shares to be issued one year after closing.
In connection with the transaction, Clarivate has secured a backstop of USD 900m fully committed bridge facility from Citi and Goldman Sachs and Co. LLC. Clarivate expects to obtain long-term financing with proceeds from debt and equity capital markets before the closing of the transaction.
The acquisition is expected to enable customers worldwide to accelerate life-changing innovations and improve patient outcomes and access
Together, DRG and Clarivate will be well-positioned in the USD19 bn Life Sciences analytics market, which currently is enjoying double-digit growth, to support customers across the entire drug, device and medical technology lifecycle from research to outcome. The combined business will offer a one-stop shop for Life Sciences customers, helping them to improve the commercialisation of life-changing therapies.
Clarivate Analytics provides trusted insights and analytics to accelerate the pace of innovation.
DRG specialises 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.
The Piramal Group is a business conglomerate with operations in 30 countries and brand presence in over 100 countries. The Group's diversified portfolio includes presence in Piramal Enterprises Ltd., Piramal Glass and Piramal Realty.
Piramal Enterprises Ltd. is an Indian diversified company, with a presence in financial services, pharmaceuticals and healthcare insights and analytics. PEL's consolidated revenues were USD 1.9bn in FY2019, with around 40% of revenues generated from outside India.
Evercore is serving as lead financial advisor and Davis Polk and Wardwell LLP is serving as legal advisor to Clarivate. Covington and Burling LLP is serving as legal advisor to PEL.
Date Published: 22/01/2020
Target: Decision Resources Group
Country: India
Deal Size: 950m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor: Piramal Enterprises
Buyer: Clarivate Analytics,  
Buyer Advisor: Evercore , Davis Polk and Wardwell