Pharmaceutical services company Parexel International has acquired all the outstanding equity securities of Liquent, a provider of Regulatory Information Management (RIM) solutions.

Established in 1994,Liquent provides software solutions platform for regulatory submissions and product registration management, as well as complementary business process outsourcing capabilities.

Parexel International chairman and CEO Josef von Rickenbach said the acquisition further strengthens regulatory capabilities by adding an information technology platform.

''Through Liquent's flagship software platform, InSight, our clients will have access to comprehensive regulatory agency submission planning, viewing, tracking, publishing, and registration management throughout the entire lifecycle of a medicinal entity,''Rickenbach added.

''We expect the acquisition will also benefit the PAREXEL Consulting and Medical Communications Services business, where we will be able to leverage Liquent's significant expertise in regulatory information management outsourcing through its Liquent Direct solutions.''

In view of the completion of the acquisition and other factors, the company has also updated its financial guidance for the second quarter of 2013 and for the full fiscal year of 2013.

Parexel International is a bio/pharmaceutical services organization which provides a range of knowledge-based contract research, consulting, and medical communications services to pharmaceutical, biotechnology and medical device industries.