The Advisory Board Company, which sells software and consulting services to the health care and education sectors, will acquire Concuity Inc. for $34.5 million. Vernon Hills, Ill.-based Concuity sells health insurance contract management software for provider organizations.
Concuity is a subsidiary of Trintech Group Plc of Dallas, which bought the company in late 2006 for $5.5 million plus performance-based payments over two years of $2 million to $3.5 million. The Trintech Group has not released Concuity's annual revenue and classified the unit as a discontinued operation in its 2009 financial report. In that report, Trintech listed assets held for sale and in discontinued operations as valued at $7.7 million, with liabilities of nearly $4 million.
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