Parexel, Waltham biotech company, buys software maker Liquent for $72 million
Parexel International Corp., a Waltham biotechnology services company , said Thursday it has purchased software maker Liquent Inc. for $72 million.
Liquent, based in Horsham, Pa., makes software used by drug companies to manage regulatory submissions and product registration. The purchase of Liquent will allow Parexel to expand the consulting services it provides to biotech and medical device companies.
“We are pleased to be able to provide this new offering and believe that it will enhance the portfolio of products and services that we provide through our Perceptive Informatics business,” said Parexel chief executive Josef von Rickenbach.
Liquent brings to Parexel more than 200 clients worldwide that use its software. Prior to the sale, Liquent was owned by private equity firm Marlin Equity Partners of Hermosa Beach, Calif.
With the addition of Liquent, Parexel increased its revenue projection for the 2013 fiscal year from between $1.63 billion and $1.66 billion to between $1.675 billion and $1.695 billion.
The purchase of Liquent had little impact on Parexel’s stock price in early trading Thursday on the Nasdaq exchange.
Parexel helps biotech companies bring their drugs to market and helps to maximize sales after drugs become available. The company employs about 14,000 people in 51 countries.Callum Borchers can be reached at firstname.lastname@example.org. Follow him on Twitter @callumborchers.