Overview
DataLabs, an innovative developer of Internet-based software applications for clinical development, announced on November 7, 2005 that it has acquired Broadpeak LLC, an eClinical Collaboration software company that provides applications to the biopharmaceutical and Contract Research Organizations (CRO) industries to improve the workflow and communication processes in managing clinical trials.
Recently DataLabs announced securing a credit facility with Comerica Bank, and indicated that part of the funding would be used to implement its acquisition strategy, of which Broadpeak is the first.
Significance
“DataLabs’ commits more than 30 percent of its annual budget to research and development, more than any other vendor in the market. The addition of Broadpeak further demonstrates DataLabs’ commitment to provide the best software solutions in the clinical trials market,” said Nick Richards, COO of DataLabs.
DataLabs believes the Broadpeak solution will be additive to the sales of their flagship product, DataLabsXC(TM), and will be sold as part of a larger trial management solution, in addition to a standalone solution.
Crosstree’s Role
DataLabs was advised in their acquisition of Broadpeak by Crosstree Capital Partners.
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