Ideagen, an information and compliance services company, will acquire Proquis, a compliance and quality management software company, pending shareholder approval.
Ideagen to buy compliance manager Proquis
The cash and stock deal is valued at $1.6 million with the potential for another $3.4 million, Ideagen said in a news release announcing the transaction. Proquis recently won a contract with the U.S. Veterans Affairs Department to install the company's document and quality management software at 165 hospitals over five years, according to Proquis' website. The Veterans Affairs contract is valued at $10.6 million, according to Ideagen, which markets health and safety software.
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