Model N scouts for more buyouts

Model N is an NYSE-listed revenue management solutions provider for life sciences, technology and manufacturing companies

 

Model N Inc, a New York Stock Exchange-listed revenue management solutions provider for life sciences, technology and manufacturing companies, is on the lookout for companies to acquire, according to its founder and chief executive officer Zack Rinat.

"For us, acquisition is a way to accelerate the growth of our company," he told mediapersons here on Wednesday.

The Redwood, California-based company had so far acquired three firms - Azerity, a software company focused on pricing and quoting practices for the high tech industry in 2006, Massachusetts-headquartered analytics company LeapFrogRX in early 2012 and US-based channel data management solutions provider Channelsight two weeks ago - for undisclosed amounts.

 

Stating that India is a priority market for Model N, Rinat said the company's third global centre in Hyderabad, with the other two being in Redwood and London, currently catered to about 80 per cent of its product development, product management and delivery, and 65 per cent of managed services.

"The Hyderabad centre now houses almost half of our global headcount of 800, with around 100 placements to be honoured by the end of 2016," he said.

Model N had in 2013 went public, raising close to $100 million. Backed by venture capital firm Accel-KKR, Model N has $93 million of cash available as on the third quarter ended June 2015. The company, which follows the October-September financial year, kept its full year revenue guidance at $91.9 million.