IDBS said this week that it has acquired Quantrix, a business modeling and analytics company, in an all-cash transaction.
Under the terms of the acquisition, Quantrix will continue to operate as an independent business from its offices in Portland, Maine, and Chris Houle will stay on as CEO.
The financial terms of the acquisition were not disclosed. Both firms are privately held.
Quantrix provides business modeling and analytics software and services to customers in more than 50 countries. The company's Quantrix Modeler lets users explore multiple dimensions simultaneously, define formulas with words rather than coordinates, and create new scenarios without rewriting or restructuring models.
IDBS called the acquisition a "strategic step forward" and noted that the Quantrix technology is already licensed for use within IDBS E-WorkBook Suite, which lets users capture and store their research data.
Neil Kipling, CEO of IDBS, said that the "transaction allows us to accelerate the introduction of advanced modeling and analytics tools into our solutions … in pharmaceutical and healthcare informatics, such as translational medicine and preclinical development."
IDBS acquired InforSense, a high performance computing and large scale data mining company; in a similar all-cash transaction last year to boost its data integration and analysis offerings in the life science space.