Indian IT services providers Infosys and Wipro are reported to be slugging it out to acquire Bridgewater, New Jersey-based analytics firm MarketRx.

According to ET, the valuation of MarketRx is $150 million-$160 million, about five times the start-up’s revenues.

The 300-man company, which has offices in the U.S., Europe and India, provides analytics, market research and technology services primarily to pharmaceutical and biotech companies.

Founded in 2000, MarketRx’ backers include Sequoia Capital and Andwel Partners.

IIT Delhi alumni Jaswinder Chadha is the CEO of MarketRx.