Accruent acquires healthcare technology company, which is California-based company. Accruent is continuing its buying spree with the acquisition of a California-based software maker Connectiv. It is Austin based company.
Accruent, which develops real estate, facilities and equipment management software, has grown through buying smaller companies. Connective marks the company’s seventh acquisition in the past 24 months.
Accruent has made at least 17 acquisitions since its founding in 1995. Connectiv, based in La Jolla, Calif., develops healthcare technology management tools for healthcare organizations.
The healthcare technology suite lets clinical engineering departments automate tasks such as biomedical asset management, compliance management, purchasing support automation and parts and inventory management.
Accruent CEO John Borgerding said medical device manufacturers and healthcare providers report that they are concerned about attacks on their biomedical devices.
“We are acquiring Connectiv because their software, co-created with clinical engineers in national healthcare organizations, enables management of medical devices across the life cycle, including automatic security monitoring that identifies threats in minutes,” Borgerding said.
Hence Accruent is going to add about 20 employees through its purchase of Connectiv. That puts the company’s total workforce at just under 1,000. It employs about 365 people at its headquarters in the Domain development in North Austin.
Previously based in Santa Monica, Calif., Accruent moved its headquarters to Austin after opening an office here in 2010. In 2016 San Francisco based private equity firm Genstar Capital acquired the company.
At the present time Accruent’s 80% of business is in the United States and 20 percent is international, according to the company.