Piramal arm acquires Adaptive for $24.5 million
Decision Resources Group (DRG), the company’s wholly-owned subsidiary has “announced the acquisition of all of the assets of Adaptive Software, LLC and entire control and ownership of its wholly owned subsidiary, AdaptiveRx LLC on February 29, 2016,(closing date)” Piramal Enterprises said in a filing to BSE.
An amount of USD 7.4 million consideration was paid on the closing date, it added.
Kansas-based Adaptive Software is eligible to receive up to an additional $11.1 million if and when it meets certain post-closing requirements, which must be satisfied within six months following the closing date, it said.
The software solutions company is also eligible to get additional payments of up to $6 million in aggregate based on the future performance of the business in 2016 and 2017.