Certara acquired Pinnacle 21 for $339.1 million, a transaction completed in October 2021, structured as combination (cash + Certara stock).
Pinnacle 21 operates in Software, is based in United States. Pinnacle 21 is a provider of SaaS solutions for clinical-data fitness, regulatory compliance and submission readiness; its software validates compliance with CDISC data standards and is used by the U.S. FDA and Japan's PMDA to review the quality of regulatory submissions, as well as by 22 of the top 25 biopharma companies by R&D spend. Certara acquired 100% of Pinnacle 21 through a merger for total consideration of $339.1 million, comprising roughly $249.1 million cash paid to sellers, $17.2 million cash to others and escrow, and 2,239,717 unregistered shares of Certara common stock (valued at about $72.8 million). It was Certara's largest disclosed acquisition and the anchor of its regulatory data-standardization offering.
Broaden Certara's software portfolio in regulatory data management and submission readiness, accelerating the drug-approval process.
Software adopted by the FDA and PMDA and by 22 of the top 25 biopharma companies by R&D spend. Expected to be accretive to Certara's revenue, revenue growth, and adjusted EBITDA.
With Pinnacle 21's software for high-quality clinical data standardization, we can together provide a broader portfolio of industry-leading software and technology-driven services to our customers worldwide. This transaction amplifies our capabilities to inform critical decisions that further de-risk and expedite the drug development process.William F. Feehery, Ph.D., CEO, Certara
Certara's global footprint and focus on growth fast-forward Pinnacle 21's journey for continued success. I look forward to expanding our technology capabilities together to advance life-saving therapies to patients.Max Kanevsky, Founder and CEO, Pinnacle 21
Advisory firms were not disclosed for this transaction.