Horsham software company bought for $72M [The Philadelphia Inquirer]
(Philadelphia Inquirer (PA) Via Acquire Media NewsEdge) Dec. 27--Liquent Inc., of Horsham, has been acquired by Parexel International Corp. for $72 million in cash.
Founded in 1994, Liquent develops software that helps more than 200 biopharmaceutical and life-sciences companies manage their regulatory submissions and product registrations. It has about 300 employees at offices in the United Kingdom, Germany and India and at its Montgomery County headquarters.
Parexel, of Waltham, Mass., also provides a variety of services to the life-sciences industry, including clinical-trials management, biostatistical analysis, and medical communications.
In a statement, Parexel chairman and CEO Josef von Rickenbach said Liquent's InSight software platform "will enhance the portfolio of products and services that we provide through our Perceptive Informatics business."
Parexel employs about 14,000 in 73 offices in 51 countries. The company reported net income of $88.8 million, or $1.05 per share, on revenue of $1.4 billion for its most recent fiscal year.
Liquent was sold by Marlin Equity Partners L.L.C., a Los Angeles investment firm. Marlin had purchased Liquent from Thomson Reuters for an undisclosed price in January 2010.
Shares of Parexel were trading down about 1 percent, or 30 cents, at $29.21 Thursday morning.
Contact Mike Armstrong
at 215-854-2980, email@example.com, or follow @PhillyInc on Twitter. Read his blog, "PhillyInc," at www.phillyinc.biz.
(c)2012 The Philadelphia Inquirer
Visit The Philadelphia Inquirer at www.philly.com
Distributed by MCT Information Services
[ Back To TMCnet.com's Homepage ]