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OmniComm Systems to acquire certain assets of software company

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OmniComm Systems to acquire certain assets of software company

OmniComm Systems Inc. will acquire certain assets and assume liabilities of Algorics Ltd., a provider of clinical analytics solutions and software.

OmniComm said it signed a letter of intent with Algorithm Inc. and its units Algorics and Algorithm Informatics Pvt. Ltd., but did not disclose financial terms of the proposed deal.

The acquisition will allow OmniComm to diversify and increase its product line and will provide it with an office in India. The deal will also allow the companies to expand their portfolio of electronic data capture solutions for the global clinical trials industry.

Closing of the proposed acquisition is expected to occur in the first quarter of 2018, subject to customary closing conditions including due diligence and the execution of a definitive asset purchase agreement, as well as OmniComm's board approval.