Veeva Systems Inc (NYSE:VEEV) announced it has acquired Zinc Ahead, a leading provider of commercial content management solutions. Veeva and Zinc Ahead are joining forces to address the growing need for end-to-end compliance management that reduces regulatory risk and boosts operational efficiency as companies face increasing volumes of content, a proliferation of digital channels, and increased regulatory scrutiny.
The combination brings together two of the leading commercial content management solutions. Zinc Ahead, founded in 2001, was an early pioneer in the market serving more than 120 life sciences companies with Zinc MAPS. Veeva Systems’ solution-Vault PromoMats released in 2011—is now utilized by more than 70 customers.
“The Zinc Ahead team brings decades of experience in commercial content management and will add considerable domain expertise to this rapidly growing area for Veeva,” said Peter Gassner, CEO of Veeva. “The merging of Veeva and Zinc Ahead will create a best-in-class solution that supports every step in the digital content lifecycle—from creation to expiration—developed and supported by top software and life sciences talent.”
With this acquisition, the market will now have a powerful, end-to-end solution that combines the strengths of both Veeva and Zinc Ahead. The joint company will fully support Zinc Ahead customers with the outstanding levels of personalized service for which Zinc Ahead is known. Customers will have access to an enhanced Vault PromoMats solution, bolstered by the unique strengths of Zinc Ahead’s offerings. The result will be the most complete software and services solution for digital content creation, review, and multichannel approval and withdrawal on the market—backed by a company-wide commitment to customer success.
“Veeva shares our top value—a clear and steadfast commitment to the customer,” said Zinc Ahead CEO James Brown. “This acquisition is a great fit and a tremendous win for Zinc Ahead’s employees, customers, and the industry. We are bringing together the strongest products and the best people. With Vault PromoMats, our customers will benefit from having a fully integrated solution that works seamlessly within their commercial landscape.”
Mr. Brown will now lead Veeva’s commercial content management business. The joint team will support both offerings to ensure a seamless transition from Zinc MAPS to Vault PromoMats over time. Customers who elect to continue to use Zinc MAPS will be supported through at least 2020. (Original Source)
Shares of Veeva Systems Inc closed yesterday at $23.25. VEEV has a 1-year high of $33.66 and a 1-year low of $22.11. The stock’s 50-day moving average is $25.13 and its 200-day moving average is $26.61.
On the ratings front, Veeva has been the subject of a number of recent research reports. In a report issued on September 25, Canaccord Genuity analyst Richard Davis reiterated a Buy rating on VEEV. Separately, on August 28, William Blair’s Amanda Murphy maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Richard Davis and Amanda Murphy have a total average return of 1.5% and -5.8% respectively. Davis has a success rate of 46.3% and is ranked #1204 out of 3752 analysts, while Murphy has a success rate of 27.3% and is ranked #3123.
Overall, 2 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $30.50 which is 31.2% above where the stock closed yesterday.
Veeva Systems Inc is a provider of industry-specific, cloud-based software solutions for the life sciences industry.