Certara Inc., the Princeton-based biosimulation company, has completed its acquisition of Pinnacle 21, a provider of Software-as-a-Service solutions for clinical data, regulatory compliance and related sectors.
At the close of the deal, Pinnacle 21 equity holders received approximately $250 million in cash, plus 2.2 million shares of restricted common stock. Certara was trading in excess of $32 per share as of Monday morning.
“We are pleased to welcome Pinnacle 21’s talented team to Certara,” CEO William F. Feehery said in a prepared statement. “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.”