Mergers and Acquistions News
Categories: IT Services & Consulting
October 19th 2009, 15:42PM
Life sciences software and services provider ISI has acquired Apyx, a firm which offers regulatory strategy and submission management tools to the industry.
The merger "adds muscle" to ISI's professional services business, which saw a 26 per cent increase in sales between 2007 and 2008, the company said.
"This addition to ISI enhances our flexible and holistic suite of services and software to the regulatory space that is unmatched in the marketplace," said Jinsoo Kim, president and chief executive officer of ISI.
Joining forces gives the firms a "huge opportunity" to leverage each other's strengths, added Ken VanLuvanee, chief executive officer, president and founder of Apyx.
ISI's resources and expertise in Europe and Asia will allow the newly-merged companies to address the "diverse range of submission requirements across the globe," he continued.
Founded in 1992, ISI was among the first professional services firms to deliver electronic submissions and now serves the top 50 pharmaceutical and biotech organisations.
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