Leading providers join to deliver the most complete commercial
content management solution for the life sciences industry
Combination set to transform productivity and compliance across the
digital supply chain
PLEASANTON, Calif. & OXFORD, England--(BUSINESS WIRE)--
Veeva Systems Inc. (NYSE: VEEV) today announced it has acquired Zinc
Ahead, a leading provider of commercial content management solutions.
Veeva and Zinc Ahead are joining forces to address the growing need for
end-to-end compliance management that reduces regulatory risk and boosts
operational efficiency as companies face increasing volumes of content,
a proliferation of digital channels, and increased regulatory scrutiny.
The combination brings together two of the leading commercial content
management solutions. Zinc Ahead, founded in 2001, was an early pioneer
in the market serving more than 120 life sciences companies with Zinc
MAPS. Veeva Systems’ solution—Vault
PromoMats released in 2011—is now utilized by more than 70 customers.
“The Zinc Ahead team brings decades of experience in commercial content
management and will add considerable domain expertise to this rapidly
growing area for Veeva,” said Peter Gassner, CEO of Veeva. “The merging
of Veeva and Zinc Ahead will create a best-in-class solution that
supports every step in the digital content lifecycle—from creation to
expiration—developed and supported by top software and life sciences
talent.”
With this acquisition, the market will now have a powerful, end-to-end
solution that combines the strengths of both Veeva and Zinc Ahead. The
joint company will fully support Zinc Ahead customers with the
outstanding levels of personalized service for which Zinc Ahead is
known. Customers will have access to an enhanced Vault PromoMats
solution, bolstered by the unique strengths of Zinc Ahead’s offerings.
The result will be the most complete software and services solution for
digital content creation, review, and multichannel approval and
withdrawal on the market—backed by a company-wide commitment to customer
success.
“Veeva shares our top value—a clear and steadfast commitment to the
customer,” said Zinc Ahead CEO James Brown. “This acquisition is a great
fit and a tremendous win for Zinc Ahead’s employees, customers, and the
industry. We are bringing together the strongest products and the best
people. With Vault PromoMats, our customers will benefit from having a
fully integrated solution that works seamlessly within their commercial
landscape.”
Mr. Brown will now lead Veeva’s commercial content management business.
The joint team will support both offerings to ensure a seamless
transition from Zinc MAPS to Vault PromoMats over time. Customers who
elect to continue to use Zinc MAPS will be supported through at least
2020.
Conference Call Information:
What:
|
|
Conference call and live webcast to discuss Veeva’s acquisition of
Zinc Ahead
|
When:
|
|
Tuesday, September 29, 2015
|
Time:
|
|
5:30 a.m. PT (8:30 a.m. ET)
|
Live Call:
|
|
1-877-201-0168, domestic
|
|
|
1-647-788-4901, international
|
|
|
Conference ID 4927 1999
|
Webcast:
|
|
ir.veeva.com
|
|
|
|
About the Acquisition
Veeva’s acquisition of Zinc Ahead was signed and closed simultaneously
on September 29, 2015. Veeva’s indirect subsidiary, Veeva U.K. Holdings
Limited acquired all of the share capital of Mineral Newco Ltd., a
company organized under the laws of the United Kingdom that is the
ultimate parent company of all Zinc operating entities, pursuant to the
terms of a Share Purchase Agreement entered into on September 29, 2015,
among Veeva U.K. Holdings Limited and the shareholders of Mineral Newco
Ltd. The aggregate purchase price for the acquisition was approximately
$130 million in cash, which includes amounts to pay off outstanding
indebtedness and expenses at closing, and $10 million of deferred
consideration payable over three years to non-institutional shareholders
and option holders.
About Veeva Systems
Veeva Systems Inc. is a leader in cloud-based software for the global
life sciences industry. Committed to innovation, product excellence, and
customer success, Veeva has more than 300 customers, ranging from the
world’s largest pharmaceutical companies to emerging biotechs. Veeva is
headquartered in the San Francisco Bay Area, with offices in Europe,
Asia, and Latin America. For more information, visit www.veeva.com.
About Zinc Ahead
Zinc Ahead is a leading enabler of content compliance and rich media
management for the life science industry. Over two million digital
assets have been approved through the Zinc cloud, transforming the
digital media development and compliance community in over 120 life
science companies across 170 countries. More than 50,000 marketing,
medical, and legal professionals currently use Zinc Ahead’s products.
Forward-looking Statements
This release contains forward-looking statements, including the market
demand for and acceptance of marketing compliance solutions, the Veeva
Vault PromoMats solution and related services, the Zinc MAPS solution
and related services, the results from the use of the Vault PromoMats
and Zinc MAPS solutions and related services, customer support
information, the benefits of Veeva’s combination with Zinc Ahead, and
general business conditions, particularly in the life sciences industry.
Any forward-looking statements contained in this press release are based
upon Veeva’s historical performance and its current plans, estimates,
and expectations and are not a representation that such plans,
estimates, or expectations will be achieved. These forward-looking
statements represent Veeva’s expectations as of the date of this press
announcement. Subsequent events may cause these expectations to change,
and Veeva disclaims any obligation to update the forward-looking
statements in the future. These forward-looking statements are subject
to known and unknown risks and uncertainties that may cause actual
results to differ materially, including Veeva’s ability to successfully
integrate Zinc Ahead’s business and products; costs related to the
acquisition; whether demand for commercial content management grows as
anticipated; the competitive environment in the industry and competitive
response to the acquisition; Veeva’s and Zinc Ahead’s success developing
new products or modifying existing products and the degree to which
these gain market acceptance; general market and business conditions;
and the accounting impact of the acquisition. Additional risks and
uncertainties that could affect these forward-looking statements and
Veeva’s financial results are included under the captions “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” in the company’s filing on Form 10-Q for the
period ended July 31, 2015, which is available on the company’s website
at www.veeva.com under
the Investors section and on the SEC’s website at www.sec.gov. Further
information on potential risks that could affect actual results will be
included in other filings Veeva makes with the SEC from time to time.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150929005761/en/
Source: Veeva Systems Inc.