Highlights on Philly Tech News (7/23/2012 to 8/5/2012): Accenture acquires Octagon; A look at Philly MedAd firms
Accenture announced last week it would acquire clinical data technology firm Octagon Research Solutions of Wayne. Terms were not disclosed; Accenture said Octagon has a headcount of 380.
Comcast reported positive earnings results last week despite problems in filmed entertainment. Management emphasized that NBC's Olympics ratings were exceeding expectations and that it might even break even on the event, although there was some dispute as to what that meant.
I looked at Medical Marketing & Media's annual agency issue, focusing on the 17 agencies among MM&M's top 100 based in the Philadelphia area.
Quality Systems, parent of Horsham-based NextGen Healthcare (its principal business), saw its shares plunge 33% after reporting disappointing earnings on July 26. Quality Systems faces a major proxy challenge at its annual shareholders meeting on August 16.
Conshohocken-based ShopRunner, a piece of GSI Commerce founder Michael Rubin's Kynetic LLC, brought in ex-Yahoo CEO Scott Thompson as its CEO. Thompson had recently left Yahoo after a discrepancy in his biographical information was uncovered.
SAP reached an agreement to settle Oracle's TomorrowNow lawsuit for $306 million, in addition to the $120 million SAP has already paid to cover legal costs. This eliminates the need for a retrial, which was scheduled to begin late this month. Oracle says it will still appeal a judge's rejection of a $1.3 billion damages award reached by a jury.
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