PLEASANTON, Calif. & FRANKFURT, Germany--(BUSINESS WIRE)--
Veeva
Systems Inc. (NYSE:VEEV), a leading provider of industry cloud
solutions for life sciences, today announced its intent to acquire the
key opinion leader (KOL) business and products known as Qforma
CrowdLink, a leading global solution for KOL data and services for
life sciences’ brand, medical, and market access teams.
As part of the all-cash transaction, Veeva Systems will acquire the
outstanding equity interests of Mederi AG, a BelHealth Investment
Partners portfolio company, as well as selected other KOL-related
business assets of Qforma, Inc. and other affiliated entities.
Financial terms of the transaction are undisclosed, though Veeva Systems
does not anticipate the acquisition will have a material impact on the
financial results for its current fiscal year ending January 31,
2016. The acquisition is subject to various customary closing conditions
and is expected to be complete in early 2015. Upon close, Veeva Systems
plans to retain the employees currently supporting the Mederi and Qforma
KOL business.
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 275 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.
Forward-looking Statements
This release contains forward-looking statements, including statements
regarding the impact of the acquisition on Veeva’s financial results for
its current fiscal year and expectations regarding the closing of the
acquisition. 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 timely close the acquisition; difficulties encountered in integrating
merged businesses; costs related to the acquisition; whether certain
markets grow as anticipated; the competitive environment in the industry
and competitive responses to the acquisition; the combined company’s
success developing new products or modifying existing products and the
degree to which these gain market acceptance; general market and
business conditions, particularly in the life sciences industry; and
unanticipated impact of accounting for acquisitions.
Additional risks and uncertainties that could affect 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
October 31, 2014, 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.
Source: Veeva Systems Inc.