Astek, a global engineering and technology consulting firm, has announced its strategic expansion in India and the strengthening of its position in the US market with the acquisition of Simelabs, an Indian software engineering company. With Simelabs’ expertise in the pharmaceutical, MedTech, and HealthTech sectors, Astek aims to enhance its presence in the fast-growing Life Sciences industry.
The acquisition of Simelabs aligns with Astek’s strategic plan to double its turnover to over €1 billion by 2027 and employ 14,000 people. By leveraging Simelabs’ research and development capabilities in India, Astek will strengthen its offshore development capabilities and optimize its market positioning. In addition, Astek plans to support Simelabs’ expansion into new geographies and maximize its growth potential by providing essential logistical support.
Aside from its foothold in India, the acquisition also presents an opportunity for Astek to expand its operations in the United States, a strategic market where Simelabs generates the majority of its revenue. While Astek’s presence in North America has been mainly concentrated in Canada, the acquisition will enable the company to further establish itself in the US market.
The Life Sciences industry, particularly in the US, offers significant opportunities for growth and transformation. With the increasing relevance of artificial intelligence and machine learning in data analysis, drug discovery, and predictive modeling, Astek aims to capitalize on these advancements with Simelabs’ recognized expertise in the sector. The acquisition will strengthen Astek’s position and allow the company to better support its customers worldwide in their digital transformation initiatives.
Astek’s CEO, Julien Gavaldon, expressed excitement about the acquisition, labeling it as an important milestone in Astek’s growth strategy. Gavaldon emphasized the opportunities that Simelabs’ expertise brings to the table, particularly in India, which complements Astek’s offering and strengthens its position both in the US market and the Life Sciences sector.
Simelabs’ CEO, Derrick Sebastian, also expressed enthusiasm about joining the Astek family, highlighting the robust platform that Astek provides for accelerated growth. Sebastian noted the benefits of Astek’s international presence, financial strength, and logistical backing in supporting Simelabs’ expansion plans and attracting new customers.
Founded in France in 1988, Astek is known for its expertise in engineering and technology consulting across various industrial and tertiary sectors. The company is committed to the intelligent deployment of products and services and assisting its customers in their digital transformation journeys. With over 8,000 employees, Astek aims to achieve sales of over €600 million by 2023.
Simelabs, based in Kochi, India, specializes in IT services and digital solutions and has been providing innovative solutions since 2014. The company focuses on a digital-first approach and delivers exceptional customer experiences, particularly catering to Pharma and Life Sciences companies in North America.
Astek’s acquisition of Simelabs signifies its ambitious growth plans and its commitment to establishing a strong global presence. With its strengthened foothold in India and the US market, Astek is well-positioned to capitalize on the opportunities presented by the dynamic Life Sciences sector.
