Shore Group Associates, a portfolio company of ClearPoint Investment Partners, has acquired data provider LabSpot, a unit of ResearchConnection. No financial terms were disclosed.
NEW YORK, Nov. 7, 2017 /PRNewswire/ — Shore Group Associates (“Shore”), a leading provider of data management solutions, announced today that it has acquired LabSpot, a division of ResearchConnection, Inc. (“ResearchConnection”). The LabSpot transaction also incorporates the assets related to Greensight Data, the joint venture between Shore and ResearchConnection. The acquisition strengthens Shore’s data mining technology and unstructured data capabilities and expands its product offerings to the biotechnology and medical and research sectors.
Founded 10 years ago by CEO, Ian Sax, and Managing Director Krishna Veerareddy, Shore collects, cleanses, catalogues, and transforms unstructured data into actionable information and insights. LabSpot employs the latest techniques in deep data mining and machine learning, natural language processing, and quick and accurate data parsing and extraction methodologies to analyze outcomes at a statistical level. LabSpot provides additional data science and technology talent to Shore’s experienced research and quantitative teams.
“The combined teams have deep experience working with massive datasets and architecting scalable technology solutions that combine the best of automation’s potential with the precision of real domain expertise. LabSpot’s reputation and strong commitment to its customers make it an excellent fit within Shore’s platform,” said Mr. Sax.
Shore is a portfolio company of ClearPoint Investment Partners, a private equity firm investing in business services companies in the lower middle-market.
About Shore Group Associates
Shore is a leading data solutions provider to top-tier financial services, healthcare companies, and educational institutions, solving some of their most complex data challenges. Through a powerful combination of analytics, proprietary technology, and a strong team of quantitative and research experts, Shore enables businesses to efficiently extract and enrich critical information and improve key decision making.
For more information on Shore Group Associates, please visit www.shoregrp.com
About ClearPoint Investment Partners
ClearPoint Investment Partners invests in business services companies in the lower middle-market. ClearPoint targets businesses at key inflection points, where its extensive operating approach, deep industry expertise, and tailored strategic resources can accelerate growth and materially enhance company value. ClearPoint’s collaborative and cross-functional team has decades of experience in the firm’s target sectors and a strong record as company builders.
Additional information is available at www.clearpointinvest.com.