The companies 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 commercial content management solutions. Oxford, U.K.-based Zinc Ahead, founded in 2001, was an early pioneer in the market serving more than 120 life sciences companies with Zinc MAPS. Pleasanton, Calif.-based Veeva Systems’ solution Vault PromoMats, which was 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 Veeva CEO Peter Gassner. “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 the acquisition, the market will now have an end-to-end solution that combines the strengths of both Veeva and Zinc Ahead. The joint company will fully support Zinc Ahead customers. Customers will have access to an enhanced Vault PromoMats solution, bolstered by the strengths of Zinc Ahead’s offerings. The result will be a 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.”
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.
Veeva’s acquisition of Zinc Ahead was signed and closed simultaneously on Tuesday. Veeva’s indirect subsidiary, Veeva U.K. Holdings, acquired all of the share capital of Mineral Newco, a company organized under the laws of the U.K. that is the ultimate parent company of all Zinc operating entities, pursuant to the terms of a share purchase agreement entered into on Tuesday, among Veeva U.K. Holdings and the shareholders of Mineral Newco.
The aggregate purchase price for the acquisition was about $130 million in cash, which includes amounts to pay off outstanding indebtedness and expenses at closing, and $10 million of deferred consideration payable over three years to non-institutional shareholders and option holders.