Veeva Acquires Learnaboutgmp, a Leading GxP eLearning Content Provider

Rhea-AI Summary

Veeva Systems (NYSE: VEEV) announced its acquisition of Learnaboutgmp, a premier provider of accredited GxP training for life sciences, on August 3, 2021. This acquisition combines Learnaboutgmp's extensive eLearning library, featuring over 170 course titles and 450 microlearning assets, with Veeva's Vault Training, enhancing training efficiency and compliance for clients. Learnaboutgmp will continue its operations independently under its founder, maintaining its presence in both Ireland and the United States, while aiming to address growing compliance needs in the industry.

Positive

• Acquisition enhances Veeva's training offerings with over 170 courses and 450 microlearning assets.
• Combines Learnaboutgmp's content with Veeva Vault Training for improved compliance and efficiency.
• Learnaboutgmp's extensive subject matter expertise addresses evolving regulatory needs.

Negative

• Potential integration challenges between Veeva and Learnaboutgmp.
• Risks related to market demand for the combined offerings may impact future growth.

PLEASANTON, Calif. and CORK, Ireland, Aug. 3, 2021 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced that it has acquired Learnaboutgmp, a leading provider of accredited GxP training for life sciences. With more than 170 course titles and over 450 microlearning assets, Learnaboutgmp delivers a comprehensive eLearning library to help organizations develop high-impact learning programs that reduce cost and improve training outcomes.

By combining Learnaboutgmp's robust content with Veeva Vault Training, an industry-specific learning management application, companies now have a more efficient, end-to-end training solution to achieve complete GxP compliance. Vault Training is part of the Veeva Vault Quality Suite, the only solution that brings together quality content, processes, and training on a single cloud platform.

"Learnaboutgmp is a leading eLearning content provider that consistently delivers training excellence for its customers," said Kent Malmros, Veeva's senior director of Vault Training. "By bringing together industry-leading learning technology and content, we aim to help customers drive more strategic training programs that improve job competency and compliance."

Learnaboutgmp enables organizations to ensure their workforce is continually upskilled and adhering to the latest regulatory guidance across the entire GxP lifecycle. Leveraging an extensive network of subject matter experts, the company continues to expand its content library to meet the growing compliance needs of its customers.

"We are excited to join Veeva, a technology leader who shares our commitment to customer success and customer-centric innovation," said Graham O'Keeffe, founder of Learnaboutgmp. "Our joint expertise and complementary solutions will help customers optimize their training programs while keeping up with evolving learning needs." 

Learnaboutgmp will remain headquartered in Ireland and continue operations in the United States. The company will operate as an independent business unit under its founder and CEO, Graham O'Keeffe. Learn more about the new offerings the company brings at Veeva R&D and Quality Summit Connect, October 14, 2021. Life sciences professionals can register and stay up to date on program details at veeva.com/Summit.

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

About Learnaboutgmp
Learnaboutgmp partners with life sciences companies to ensure qualification and job readiness through its extensive online training library. As a leading provider of accredited online training content for the industry, Learnaboutgmp offers customers the most comprehensive set of regulatory-compliance titles for professional certification and continuing education (CEU) credits. Learnaboutgmp delivers best-in-class, interactive modules in both traditional course formats and microlearning videos to complement the accredited courses.

Customers include top pharma companies, leading medtech companies, emerging biotechs, and other brands. Founded in 2006, Learnaboutgmp is headquartered in Ireland. For more information, visit learnaboutgmp.com.

Forward-looking Statements
This release contains forward-looking statements, including the market demand for and acceptance of the products and services offered by Veeva and Learnaboutgmp, the results from use of such offerings, the benefits of Veeva's acquisition of Learnaboutgmp, and general business conditions, particularly within the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva's historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including Veeva's ability to successfully integrate Learnaboutgmp's business and offerings; costs related to the acquisition; whether demand for Learnaboutgmp's offerings will grow as anticipated; the competitive environment in the industry and competitive response to the acquisition; Veeva's and Learnaboutgmp's success developing new products or modifying existing products and the degree to which these gain market acceptance; general market and business conditions; and the accounting impact of the acquisition. Additional risks and uncertainties that could affect Veeva's financial results are included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in the company's filing on Form 10-Q for the period ended April 30, 2021. This is available on the company's website at veeva.com under the Investors section and on the SEC's website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time. 

Media Contact
Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com

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SOURCE Veeva Systems

FAQ

What is the purpose of Veeva's acquisition of Learnaboutgmp?

The acquisition aims to enhance Veeva's training solutions by integrating Learnaboutgmp's accredited GxP training content with Veeva Vault Training.

When was the acquisition of Learnaboutgmp announced?

The acquisition was announced on August 3, 2021.

How will the acquisition impact Veeva Systems' training offerings?

The acquisition will improve training efficiency and help clients achieve complete GxP compliance through a more robust end-to-end training solution.

Will Learnaboutgmp continue operating independently after the acquisition?

Yes, Learnaboutgmp will operate as an independent business unit under its founder, Graham O'Keeffe.

Where is Learnaboutgmp headquartered?

Learnaboutgmp is headquartered in Ireland and also operates in the United States.