Edison Ventures has sold Octagon Research Solutions to Accenture. Based in Wayne, PA Octagon’s regulatory and clinical solutions support drug development at over 200 life sciences companies.
Edison Ventures today announces that Accenture acquired Octagon Research Solutions based in Wayne, PA. Octagon regulatory and clinical solutions support drug development at over 200 life sciences companies.
John Martinson, Octagon Director and Edison’s Managing Partner observed “Founders and management pioneered and optimized electronic FDA submission.” Michael Balmuth, Octagon Director and Edison General Partner, oversaw the sale process together with company management. “Octagon was an attractive acquisition candidate due to strong management, substantial backlog, repeat sales of multiple products, global clients, domain expertise, #1 market share and solid profitability.”
Jim Walker, Octagon CEO commented, “Edison Ventures contributed strategic guidance, valued added services, and pharma outsourcing best practices.” Jo Webber, former InnaPhase CEO, served as Edison Director Network Board member.
Edison invested and guided 30 Healthcare Information Technology companies. Noteworthy exits (2-16X return) include CambridgeSoft, Dendrite, DiagnosisOne, InnaPhase, POMs, Portico and Taratec. Current Healthcare IT portfolio companies include Cadient, ClearPoint, Health Market Science, iContracts, PHX and Verilogue. Pennsylvania successes (3-17X return) include Assessment Systems, E-Transport, Insoft, Liberty Technology, Neutronics, Nobel Education, Submicron, Thermacore, True Commerce and Virtual Edge.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH. Industry specialties include Healthcare IT, Financial Technology, Interactive Marketing & eCommerce and Enterprise 2.0. Edison’s successes include Best Software, Gain Capital, Liberty Tax, Marcam, Mathsoft, Neat, Tangoe, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $700 million and actively making new investments. For more information on Edison Ventures, please visit www.edisonventures.com and follow us on Twitter @edisonventure.
Octagon is the industry leader in transforming clinical R&D through an integrated suite of regulatory, clinical, business consulting and technology solutions. With a foundation in data standards and advanced technology, Octagon’s eCTD and CDISC-enabled solutions provide all of the resources required to optimize drug development from data collection to submission. Octagon’s unique combination of deep domain knowledge, cross-functional electronic submission expertise and holistic process approach utilizing integrated solutions, set us apart as we serve more than 350 clients on three continents. Our global headquarters are in Wayne, Pennsylvania with additional US offices in Mountain View, California. Octagon also has European offices based in Wokingham, UK, and Asia-Pacific offices in Bangalore, India.
Accenture is a global management consulting, technology services and outsourcing company with over 246,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$25.5 billion for the fiscal year ended Aug. 31, 2011.