Spadac adds risk analysis assets to offerings
Company purchases all IP from Veratect
- By David Hubler
- May 06, 2010
Spadac Inc., a provider of predictive and geointelligence analysis solutions for government and industry, has acquired all intellectual property assets of Veratect Corp. Financial terms were not reported.
Veratect’s Verasight data services allow corporate risk, supply chain and security managers to obtain highly customized risk alerts at every geographic location of relevance to their operations and employees, according to a Spadac announcement today.
Actions taken as a result of the alerts can save lives, enable effective loss control, preserve business processes, safeguard supply chain operations and facilities, and better manage financial reporting and insurance coverage, the statement said.
Veratect’s technology provides effective and early disease risk situational awareness capabilities to corporations, insurers, government and nongovernmental organizations.
Spadac, of McLean, Va., provides situational awareness products that track the emergence and effects of influenza and more than 225 other infectious disease pathogens, which helps risk mitigation strategies and actions to protect employees, their families and business operations across the globe, the statement explained.
“Spadac will add the Veratect technology to our current risk analysis capabilities as well as with research and development efforts, both internal and with strategic partners,” said Mark Dumas, Spadac’s CEO.
He added that the company plans to make the acquired technology available to its interested government customers.
Veratect provides early warning and region-specific risk surveillance to corporations, government agencies and NGOs. The private company has two operations centers in the Seattle and Washington, D.C., metro areas.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.