IDBS acquires Quantrix
IDBS, the provider of data management and analytics solutions to R&D and healthcare organisations, has concluded an agreement to acquire Quantrix, a company that provides business modelling and analytics software and services. As part of the cash acquisition, Quantrix will continue to operate as an independent business unit from its headquarters in Portland, Maine, USA.
The acquisition is a strategic step forward in the longstanding relationship between the companies. Quantrix technology is licensed for use within one of IDBS' products, E-WorkBook Suite, the scientific electronic laboratory notebook. Quantrix has customers across 50 countries in markets including financial services, manufacturing and engineering.
'We are pleased to be able to welcome Quantrix into the IDBS group,' says Neil Kipling, founder and CEO of IDBS. 'This transaction allows us to accelerate the introduction of advanced modelling and analytics tools into our solutions for high value areas in pharmaceutical and healthcare informatics, such as translational medicine and preclinical development. IDBS also recognises the value of Quantrix technology for a broad range of vertical markets, such as financial services, engineering and manufacturing and will continue to invest in its ongoing development and commercialisation.'
'Joining IDBS will significantly benefit our customers and partners by enabling Quantrix to devote additional resources toward the development and marketing of our suite of integrated solutions that improve business decision-making,' says Chris Houle, who continues as CEO of Quantrix. 'This partnership supports our vision of enhancing business performance by replacing error-prone spreadsheets and overly complex and expensive enterprise business intelligence software with integrated business modelling and analytics solutions.'