Inovalon Holdings Inc. has agreed to acquire ABILITY Network Inc. for aggregate consideration of $1.2 billion in cash and restricted stock.
ABILITY is a cloud-based software-as-a-service technology company.
The transaction is expected to close in April, subject to customary closing conditions and regulatory approvals, and is expected to be accretive to Inovalon's non-GAAP net income per share in 2018.
More details to follow.
