Ness sells dbMotion stake

Information technologies service provider Ness Technologies said Wednesday it sold its stake in subsidiary dbMotion for $6 million to other shareholders of the start-up company.

By AVI KRAWITZ
January 4, 2007 07:20

 
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Information technologies service provider Ness Technologies said Wednesday it sold its stake in subsidiary dbMotion for $6 million to other shareholders of the start-up company. dbMotion provides healthcare information integration software that facilitates interoperability and Health Information Exchange for health information networks and integrated healthcare delivery systems. Its technology was originally developed by Ness and it recently won its largest contract to date, a $35m. deal with the University of Pittsburgh Medical Center. dbMotion was spun-off from Ness in 2004 backed by venture capital funding from, among others, Vertex Venture Capital, Pitango Venture Capital and Gemini Israel Funds.

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