Veeva (VEEV) Systems announced the acquisition of Ostro, a brand engagement platform for life sciences that “gives patients and doctors immediate, compliant answers through an easy-to-use AI-driven chat experience.” Veeva acquired Ostro for a purchase price of approximately $100M in cash and long-term equity retention grants. “Ostro will operate as an independent unit led by CEO Chase Feiger. Over time, the company will develop integrations between Ostro and Veeva Commercial Cloud applications for seamless workflows that connect online and field engagements for greater customer centricity,” the company stated.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VEEV:
- Veeva price target lowered to $291 from $319 at Citi
- Veeva price target lowered to $219 from $319 at Citi
- Veeva Systems Earnings Call Highlights Growth And Margins
- Veeva Systems: Broad Biopharma Demand, Emerging AI Traction, and Durable Moat Support Long‑Term Growth and Justify Buy Rating
- Veeva price target lowered to $262 from $275 at Truist