Cork life sciences manufacturing software firm Zenith Technologies has been bought by US tech service giant Cognizant for an undisclosed sum.
Ringaskiddy-headquartered Zenith, which sells to global pharma and biotech companies, employs almost 900 in the Republic and overseas in 16 locations.
The firm works with nine of the world’s 10 largest biopharmaceutical manufacturers, implementing and supporting their manufacturing software.
The firm, which was founded in 1998 by Brendan O’Regan, had a turnover of €85m last year and forecast €100m in sales for 2019.
It was named as Cork Company of the Year in February at Cork Chamber’s annual business dinner.
Zenith’s staff will become part of Cognizant’s life science division, the US Fortune 500 firm said.
Chief executive of Zenith, Joe Haugh said the deal was “bringing together two respected life sciences service provider brands with complementary technology and manufacturing operations expertise”.
The deal came at a good time “with the life sciences industry embracing digital transformation to enable more flexible and efficient manufacturing facilities to bring new treatments to market faster”, Mr Haugh added.
Cognizant said the deal would help expand its Internet of Things (IoT) reach, as well as its life science expertise.
“Together, we are better positioned to help clients realise information and operational technology convergence in their manufacturing operations, and advance the development of life-saving drugs, biologics, specialized pharmaceuticals and medical devices,” the US firm’s chief executive Brian Humphries said.
Source: Business News