SAN MATEO, Calif.--(BUSINESS WIRE)--Model N, Inc. (NYSE: MODN), the leader in cloud revenue management solutions, today announced that it has entered into a definitive agreement to acquire Deloitte’s life sciences pricing and contracting solutions business and underlying technology.
The acquisition broadens Model N’s portfolio to better serve a larger segment of the market from pre-commercial to the largest life sciences companies in the world. It also brings new life sciences customers, talent and intellectual property that complement Model N’s robust customer base and market leading offering.
“We are very excited to welcome Deloitte’s life sciences pricing and contracting solutions customers and employees to the Model N community. We believe the acquisition of this business allows us to offer revenue management to the broader life sciences market,” said Jason Blessing, president and chief executive officer of Model N. “Deloitte’s cloud software and expert services solution are purpose built to help companies scale from pre-commercial to billion dollar enterprises. Model N has not historically gone after the pre-commercial segment so this is an exciting addition to our total addressable market.”
Model N plans to acquire Deloitte’s life sciences pricing and contracting solutions business and underlying technology for $60 million in cash. Model N expects the transaction to close in late December 2020 and to have no contribution to its first quarter fiscal year 2021 results. More financial details of the transaction will be provided on Model N’s first quarter fiscal year 2021 earnings conference call after the transaction has closed.
About Model N
Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutionspurpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Its integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology. For more information, visit www.modeln.com.
