Advisory Board to Acquire Concuity
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.
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.
The acquisition is expected to close within a month. Washington-based Advisory Board will pay $28.5 million at closing, with another $6 million placed in escrow and released during the next 21 months as certain performance targets are reached. Advisory Board expects the acquisition to break even during 2011 and add to earnings in 2012.
More information is available at concuity.com and advisoryboardcompany.com.
--Joseph Goedert
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.
The acquisition is expected to close within a month. Washington-based Advisory Board will pay $28.5 million at closing, with another $6 million placed in escrow and released during the next 21 months as certain performance targets are reached. Advisory Board expects the acquisition to break even during 2011 and add to earnings in 2012.
More information is available at concuity.com and advisoryboardcompany.com.
--Joseph Goedert