Monday, December 06, 2010
New York, December 6, 2010 – Berkery, Noyes & Co. LLC, a leading independent investment bank serving the software, information, and professional services markets, represented Image Solutions, Inc. (ISI) of Whippany, NJ in its sale to Computer Sciences Corporation (NYSE: CSC), the company announced today. Terms of the transaction were not disclosed.
Founded in 1992, ISI has provided the healthcare industry with pioneering innovations, while furthering the adoption of electronic submission technologies. ISI's offerings, such as eCTDXPress and ISIPublisher, combined with CSC's enterprise content management offerings, such as (FirstDoc and FirstPoint), provide an integrated, end-to-end business solution for electronic regulatory submissions. Additional capabilities will also include integrated solutions that leverage ISI's Life Sciences industry expertise with CSC's established Cloud/SaaS capabilities.
From design to implementation, ISI's products and services have allowed the world's most prominent pharmaceutical companies a faster and less costly regulatory submission process.
"This transaction reflects the strong buyer interest in healthcare and life science technology providers, the latest of numerous transactions in this market in recent months," said Jeff Smith, the Managing Director at Berkery Noyes who managed the transaction on behalf of ISI. "ISI represents an outstanding strategic fit with CSC, substantially improving both companies's prospects for growth in this dynamic market."
"Our sale to CSC is an important strategic step for ISI. The two companies make a compelling combination to yield an end to end drug submission management solution that will serve our clients very well," said Jinsoo Kim, ISI's founder and CEO. "The Berkery Noyes team showed both their business skills and transaction experience through each step of the process. Their insight in the information technology industry proved invaluable in what was a complicated transaction. It was because of Jeff Smith and his team at Berkery Noyes that this transaction has closed with two very satisfied parties."
About Berkery Noyes
Berkery Noyes provides strategic mergers and acquisitions transaction advisory services, financial consulting, and strategic research to middle-market education, information, and technology companies in the United States and internationally. BNC has been involved in many notable transactions in the technology and information sectors, including UpToDate's sale to Wolters Kluwer Health, Discovery Logic's sale to Thomson Reuters, Arlington Medical Resources, Inc.'s sale to Decision Resources, and Relsys's acquisition by Oracle.
About Image Solutions, Inc.
Founded in 1992, Image Solutions, Inc. is a proven market leader in providing submissions solutions, BPO services and consulting to Life Sciences companies as a way to improve clinical and regulatory processes that bring new medicines to market. ISI was among the first professional services firms to deliver electronic submissions to the industry and has since delivered thousands of electronic and eCTD submissions. ISI serves the top 50 pharmaceutical and biotech organizations as well as the top companies in other regulated industries.