IT and consultancy services provider Take Solutions Ltd on Monday said it has entered into the big data market for the Life Sciences sector by setting up its new US-based subsidiary called Intelent.
In a filing to the Bombay Stock Exchange, the company informed, "The company creates a new subsidiary for Life Sciences big data in the US."
It has formed the new subsidiary with an initial investment of USD 3 million.
Further, the new subsidiary Intelent aims to address the USD 300 billion healthcare and life sciences market (according to projections by McKinsey) by providing clients offerings in the areas of data integration and advanced analytics, the company said in a statement.
Take has set up Intelent to address the challenge of harnessing data from multiple streams to create a competitive advantage for its clients, it added.
Meanwhile, shares of the company were trading at Rs 137.75 apiece, up 5.52 per cent, from previous close on BSE at 10:39 hours.