Palo Alto, CA – May 31, 2008 – Edge Dynamics, Inc., a developer of channel demand management solutions for the life sciences industry, has announced its acquisition by I-many, Inc. (NASDAQ:IMNY), a leading provider of enterprise contract management software and services. I-many will assume Edge Dynamics’ debt in addition to a cash payment to Edge shareholders. The acquisition of Edge Dynamics is expected to add around $5 million to I-many’s revenue over the next 12 months, potentially growing to $20 million within four years.
Edge Dynamics technology will be used to assist I-many customers reduce the risks and costs common to life sciences organizations, such as payment errors and poor channel management. Incorporating Edge Dynamics products and data enables I-many to provide customers with deeper product demand insight and true product movement from factory floor to patient.
This combination, with close integration, will allow manufacturers to balance the desire for greater control and predictability of sales and profitability, with improved compliance and government pricing reporting that is critical within the pharmaceutical industry. This acquisition is a significant step in enabling I-many to become a one-stop shop for pharmaceutical companies to address contract management, contract compliance, and enhanced demand visibility.
“Building on the acquisition of GHX in January, I-many continues to expand its life sciences capabilities and footprint with the acquisition of Edge Dynamics. These acquisitions further consolidate our leadership in contract management by creating the first comprehensive and integrated gross-to-net-net solution for our enterprise customers. We help our customers follow their contracts and their money, and now, we can help them follow their products. This combination can be game changing for our customers by permitting them to use both syndicated and non-syndicated data to gain new insights into their business permitting them to eliminate even more revenue leakage thus increasing both top and bottom line.” – John A. Rade, President and CEO, I-many Inc.
“With Edge Dynamics under the umbrella of an industry leader like I-many, pharmaceutical companies can receive our leading demand management product from a large and trusted partner. We are confident the industry will welcome our integrated set of products, support and services.” – Henry Olson, President and CEO, Edge Dynamics Inc.
Woodside Capital Partners served as the exclusive financial advisor to Edge Dynamics, Inc. in this transaction.
About Edge Dynamics, Inc.
Edge Dynamics, Inc. develops and markets channel- and demand-management software to companies in the pharmaceutical industry in the United States. Established in 2002 in Redwood City, California, Edge Dynamics has been empowering pharmaceutical manufacturers to maximize product revenues and reduce operational costs by giving them capabilities to understand, manage, and extract value from their distribution channel. Its on-premise and on-demand solutions enable manufacturers to sense channel demand, find business exceptions that matter, and optimize operational performance in real time.
About I-many, Inc.
I-many (NASDAQ:IMNY) is the leading provider of contract management software and services for the enterprise. With hundreds of customers across 21 industries worldwide, I-many is enabling businesses to manage the entire contract lifecycle, from pre-contract processes and contract management to active compliance and contract optimization. The result is an end-to-end solution that provides enterprises with greater levels of insight into contract performance, allowing companies to improve profitability and achieve measurable return on investment. For more information, please visit www.imany.com.
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001, with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com.