Computer-aided detection (CAD) firm iCAD has finalized its acquisition of brachytherapy device developer Xoft for approximately $12.9 million.
iCAD of Nashua, NH, acquired Sunnyvale, CA-based Xoft for 8.65 million shares of iCAD common stock and approximately $800,000 in cash to certain Xoft stockholders. In addition, iCAD also paid approximately $1 million for certain Xoft transaction expenses.
iCAD said there is also additional earn-out potential for Xoft shareholders tied to cumulative net revenue of Xoft products over the next three years.
Related Reading
iCAD to acquire Xoft for $13.1M, December 16, 2010
iCAD reports lower sales, dips into black, November 4, 2010
iCAD gets FDA nod for VC CAD, August 5, 2010
Xoft wins Premier contract, July 15, 2010
Xoft signs Hoag Memorial, June 30, 2010
Xoft completes Axxent install in Calif., June 23, 2010
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