New Delhi, Nov. 11 -- Life sciences and healthcare services firm Indegene Ltd has struck another deal in a little more than a month to bolster its presence in Europe with the acquisition of an Austrian healthcare communications company.

The Mumbai-listed, private-equity-backed company said it has signed a deal to fully acquire Vienna-headquartered Cake Kommunikations Holding GmbH or Cake Group and its European subsidiaries for up to 8.5 million euro ($9.8 million or Rs 87.1 crore) in an all-cash transaction, as per a stock exchange disclosure.

The deal is subject to regulatory clearance based on the Austrian Investment Control Act (InvKG) and is expected to be completed in January 2026.

This is the second buyout Indigene has made recently to expand its global presence. On October 1, the company had announced the acquisition of a Pennsylvania-based specialised marketing services agency named BioPharm. This was part of Indegene's strategy to strengthen its commercialization portfolio with ad-tech, which combines AI and digital advertising for pharma companies.

The latest transaction will enhance Indegene's European presence and expand its capabilities in healthcare communications, Indegene said in a filing.

Cake Group operates across Austria, Germany and Switzerland. The healthcare marketing and communications agency offers services such as brand strategy, creative campaign development, and digital marketing solutions.

Headquartered in Vienna, Austria, the company has about 25 employees across the DACH (Austria, Germany and Switzerland) region. As of the financial year ended December 2024, Cake Group's revenue rose by about 22% year-on-year to 3.78 million euro, compared to a 2.5% y-o-y decline in revenue to 3.1 million euro a year before.

Acquisition-fuelled growth

Backed by private equity firm Brighton Park Capital and two Indian family offices, Indegene is building its marketing or communications services portfolio in the healthcare domain and growing its global footprint.

The company had previously acquired a few other overseas companies to ramp up its service offerings. Last year, it purchased medical writing consultancy firm Trilogy Writing & Consulting GmbH. In 2022, it bought US-based CultHealth. The year before, it purchased US-based Medical Marketing Economics LLC.

Founded in 1998 by first-generation entrepreneurs Manish Gupta, Sanjay Parikh, Rajesh Nair, Gaurav Kapoor and Anand Kiran, the Bengaluru-based company went public last year through an initial public offering (IPO) that included an offer for sale by PE firms Carlyle and Brighton Park Capital and Infosys co-founder Nadathur S Raghavan's family office.

Its current set of investors include Brighton Park, the Nadathur Family Office, Enam Family Office, and PremjiInvest.

Published by HT Digital Content Services with permission from VC Circle.