Veeva Systems Inc., which provides software to life sciences companies, is acquiring patient data and analytics company Crossix Solutions Inc. for an up-front payment of $430 million in cash.
Veeva said that New York-based Crossix provides privacy-safe U.S. patient data and an analytics platform that connects health and non-health data for more than 300 million U.S. patients.
Pleasanton, Calif.-based Veeva said the two companies' complementary strengths in data and cloud technology will help in improving healthcare efficiency and patient outcomes.
Following the closing of the deal, Veeva will pay $430 million to acquire all the outstanding shares of Crossix, subject to customary purchase price adjustments. In addition, certain Crossix employees will be granted about $80 million in restricted stock units and about $40 million in options to buy Veeva's Class A common stock, subject to certain time restrictions.
Crossix will remain headquartered in New York and continue its operations in Israel and Belarus, Veeva said in a Sept. 26 press release.
