February 6, 2024
Astek establishes strategic presence in India and strengthens its position in US market with the Acquisition of Simelabs
Astek announces the acquisition of Simelabs, an Indian software engineering company founded in 2014. This is a strategic step in Astek's global growth: Astek establishes a foothold in India and significantly strengthens its presence in the United States. Simelabs generates the majority of its revenue with US based customers. At the same time, Astek significantly strengthens its position with Life Sciences customers a fast growing sector, thanks to Simelabs' recognised expertise in the pharmaceutical, MedTech and HealthTech sectors.
This transaction is fully in line with Astek's strategic plan. Astek aims to double its turnover to more than €1 billion by 2027 and to employ 14,000 people by that date.
Julien Gavaldon, CEO of Astek, commented: "The acquisition of Simelabs is an important milestone in Astek's growth strategy and opens up many opportunities. Simelabs provides us with solid expertise and capabilities, particularly in India, which perfectly complement our offering and strengthen our position both in the US market and in Life Sciences. We are delighted to welcome the Simelabs team to the Astek family."
Stronger presence and operational synergies to support growth in India and the US
Astek will leverage Simelabs' R&D capabilities in India. This will strengthen Astek's offshore development capabilities and optimise its market positioning. Astek will provide essential logistical support to Simelabs to facilitate its expansion into new geographies and maximise growth potential.
The acquisition of Simelabs also provides an opportunity to expand Astek's operations in the United States, a strategic market. The Group's presence in North America is mainly concentrated in Canada.
Strengthening life sciences activities
Data analysis, drug discovery and predictive modelling are being transformed by artificial intelligence and machine learning. As a solution enabler and technology catalyst, Astek supports its customers worldwide in their transformation ambitions through a holistic approach (technological expertise, human capabilities and economic competitiveness). The acquisition of Simelabs significantly strengthens Astek's position in the Life Sciences sector. It will enable Astek to capitalise on the opportunities offered by this very dynamic sector, particularly in the US market.
Derrick Sebastian, CEO of Simelabs, commented: "Joining Astek Group is a momentous step for us. It provides us with a robust platform to accelerate our growth, supported by Astek's international presence, financial strength, and logistical backing. We are eager to collaborate on projects that leverage our offshore development capabilities and attract new customers as part of a globally recognized group like Astek".
About Astek
Founded in France in 1988, Astek is a global player in engineering and technology consulting. With its expertise in many industrial and tertiary sectors, Astek supports its international customers in the intelligent deployment of their products and services, and in the implementation of their digital transformation.
Since its creation, the Group has based its development on a strong culture of entrepreneurship and innovation, and on the support and skills development of its 8,000 employees who are committed every day to promoting complementarity between digital technologies and complex systems engineering. The Astek Group expects to achieve sales in excess of €600m by 2023. https://astekgroup.fr
About Simelabs
Simelabs, situated in Infopark, Kochi, is a company specializing in IT services and digital solutions, offering innovative solutions since 2014. With a focus on a digital-first approach, the company emphasizes providing outstanding customer experiences to drive accelerated exponential growth, particularly catering to Pharma and Life Sciences companies in North America. https://www.simelabs.com/
Press contact
Claire Doligez - cdoligez@image7.fr- +33 6 84 90 21 69
Charlotte Le Barbier - clebarbier@image7.fr- +33 6 78 37 27 60
Attachment
- CP_acquisition SIMELABS_EN 2024-02-06 (https://ml-eu.globenewswire.com/Resource/Download/e9866063-53f9-4d29-befb-bf7ccd78bcbe)
