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.
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.