Patni Computer Systems Inc, a wholly-owned subsidiary of Patni Computer Systems, on Monday announced the acquisition of Bridgewater, NJ-based Taratec Development Corp for an aggregate price of $27.2 million in cash.

According to a release issued by Patni to the Bombay Stock Exchange on Monday, with more than $20 million in annual revenue, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.

"Taratec brings deep domain expertise in the life sciences industry, excellent understanding of the regulated industry, long-term client relationships and a reputation of service delivery in the industry," Sunil Chitale, senior vice president and head of the manufacturing practice at Patni said.