Mergers and Acquisitions

California company to buy TomoTherapy for $277 million; New Berlin company acquires Canadian firm; Fiserv acquires credit union tech company

California company to buy TomoTherapy for $277 million

Sunnyvale, Calif.-based Accuray has signed a definitive agreement to acquire TomoTherapy Inc. of Madison for $4.80 per share in cash and stock, or a total of $277 million.

TomoTherapy is a creator of advanced radiation therapy solutions for cancer care.

The transaction combines the best-in-class technologies from two high-growth companies to create a premier radiation oncology company. The companies currently serve complementary patient populations that are treated by the same medical specialty.

The combined company will offer advanced patient-focused technologies for the treatment of cancer and other diseases, ranging from high-precision radiosurgery for early-stage and localized disease to image-guided, intensity-modulated radiation therapy for more advanced disease sites throughout the body.

Accuray said it recognizes that Madison, TomoTherapy’s operating and corporate headquarters, is an important center for medical excellence and innovation, and Accuray is committed to maintaining a strong presence in the area.

The combined company will have an installed base of more than 550 units in 32 countries, and more than 1,100 employees, with a global sales presence.

"The transaction strengthens Accuray’s position as the leading innovator in the field of radiation oncology and will enhance our growth strategy," said Euan Thomson, Ph.D., president and chief executive officer of Accuray. "This acquisition will create a company that can provide patients with radiation treatments tailored to their specific needs, from high-precision radiosurgery to image-guided, intensity-modulated radiation therapy.”


New Berlin company acquires Canadian firm

International Monetary Systems Ltd., a New Berlin-based business-to-business barter service company, has acquired Nationwide Barter, a trade exchange located in Peterborough, Ontario, Canada.

John Strabley, IMS executive vice president, said, "We are pleased to bring another well-run operation into our barter network. Adding Nationwide Barter to our Canadian exchange will virtually double the size of our Canadian client base. We expect our new Peterborough members to have many more trading opportunities through the intercity relationships that will develop with our Toronto office, as well as our huge travel division."

In the past, International Monetary Systems has grown primarily through the acquisition of other barter systems. Because of market conditions, this is the company’s first acquisition since 2008.

Strabley added, "IMS is open for discussions with other trade exchange owners who are looking for an exit for themselves, or the opportunity to offer expanded trade opportunities to their members."

Fiserv acquires credit union tech company

Brookfield-based Fiserv Inc. has acquired Credit Union On-Line Inc. (CUOL), a credit union service organization that runs an outsourced version of the XP2 account processing solution from Fiserv.

The CUOL organization was co-owned by chief executive officer Connie Boretti, the RTN Federal Credit Union and the Medical Area Federal Credit Union.

Financial terms of the transaction were not disclosed.

CUOL has been providing data processing solutions for credit unions since 1980.

"We have been impressed by the manner in which Credit Union On-Line has maintained and supported its clients," said Naseer Nasim, segment executive of Credit Union Solutions at Fiserv. "As part of Fiserv, we will continue the high level of service excellence while increasing the choices for clients to add value through the additional solutions we offer to XP2 clients."

The CUOL acquisition will provide Fiserv clients with a choice of either in-house or outsourced delivery of XP2. It also provides credit unions that are already receiving outsourced delivery through CUOL with direct support and better, faster access to new developments.

“The transition to Fiserv will be seamless for our clients," Boretti said. "Leveraging the strengths of this leading industry provider positions us to better serve our clients and further support our commitment to delivering advanced technology solutions and a superior client experience."


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