Anju Software Inc., a portfolio company of Providence Equity Partners, has acquired the assets of Sylogent, a Newtown, Penn.-based provider of software and business services for the pharmaceutical industry.
Providence, RI-based Providence Equity Partners invested in three-year-old life sciences software platform Anju Software in June 2016. The NY-based SaaS provider has raised about $8.6 billion in funding, according to Crunchbase. Its integration of Sylogent, which provides software intended to streamline and automate core business processes for clients across the pharmaceutical, biotech and device industries, should help the company enhance its product offerings.
The acquisition is in line with Anju’s broader growth strategy focused on building through acquisitions and internal development. With the close of the Sylogent deal, Anju will have made four acquisitions in less than two years. Most recently, the company bought clinical trial software company ClinPlus in July 2017.
“Sylogent has cloud based state of the art software solutions that enhance current Anju solutions in the Medical Affairs and Clinical Trials space,” said Kurien Jacob, the Chief Executive Officer of Anju Software. “PUBSTRAT is the only cloud-based solution for publication planning, which is integrated with industry critical scientific journal and medical conference profiles. VTCR is a Clinical Disclosure solution that streamlines compliance with global disclosure and transparency regulation requirements. In addition, Sylogent has SAM for document approvals workflow automation and SYQUENCE, a data and information lifecycle management platform, which is currently being introduced to the industry.”
Financial terms of the weren't disclosed.
Providence Equity manages over $54 billion in capital and focuses on investments in media, communications, education and information industries. Since its founding in 1989, Providence has invested in over 160 companies, as its 250 employees, advisors and partners collaborate from offices across the U.S., Europe and Asia. The leading global private equity firm also invests in credit funds through its Capital Markets group and affiliate Benefit Street Partners. As one of the industry’s first pioneers of a sector-based approach to private equity investing, the firm raised a mega $12 billion for its sixth fund in 2007, investing half of it in just two years at the peak of the buyout frenzy.
The firm, which targets equity deals between $150 million to $800 million, has invested in companies including Warner Music Group, Blackboard Inc., Hulu, Abacus Data Systems, and VoiceStream (now T-Mobile US).