Clarivate Analytics plc (NYSE:CCC; CCC.WS), a London, UK-based Philadelphia, PA-based provider of insights and analytics to accelerate innovation, completed its acquisition of Decision Resources Group, for $950m.
On January 17, 2020 Clarivate had announced its intent to acquire DRG from Piramal Enterprises Limited (“PEL”, NSE: PEL, BSE: 500302), part of global business conglomerate Piramal Group.
Clarivate paid $900m in cash from a combination of equity proceeds and debt financing. The balance of approximately $50m of deferred consideration in the form of Clarivate ordinary shares is expected to be issued one year after closing.
DRG is a provider of high-value data, analytics and insights products and services to the healthcare industry. The company specializes 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.
Led by Jerre Stead, Executive Chairman and CEO, Clarivate Analytics has built some brands across the innovation lifecycle, including the Web of Science™, Cortellis™, Derwent™, CompuMark™, MarkMonitor™ and Techstreet™.