Phase Forward Acquires Maaguzi

Wade Roush7/27/09

Phase Forward (NASDAQ: PFWD), the Waltham, MA-based maker of software used by pharmaceutical companies to manage data collection and analysis during clinical trials, said today that it has acquired Indianapolis, IN-based Maaguzi for $11 million in cash. Maaguzi operates a Web-based service used to collect data reported directly by patients. Phase Forward also reported today that its second-quarter revenues of $52.5 million were up 29 percent over Q208 levels.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.