Monday, April 28, 2008
CompIQ Acquired by ACS
Irvine-based CompIQ Corporation, a provider of worker's compensation claims review software, has been acquired by Affiliated Computer Services. Texas-based ACS said that it would pay $22M for CompIQ, plus additional unspecified contingent payments based on future financial performance. CompIQ develops software used for medical bill review and cost containment of worker's compensation, group health, and liability insurance. ACS said that CompIQ had trailing twelve months revenue for March 31st of approximately $17M. CompIQ will become ACS CompIQ, and has approximately 130 employees.