Revenue Management Market Leader Expands Market Opportunity with Acquisition
Model N, the leader in cloud revenue management solutions, announced that it has entered into a definitive agreement to acquire Deloitte’s life sciences pricing and contracting solutions business and underlying technology.
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“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”
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.
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“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.