PRINCETON, N.J., April 4, 2016 /PRNewswire/ -- Streebo, Inc., announced today that it has completed the spin-off of its Pharmaceutical Software and Consulting Solutions practice to a new company called qordata.
qordata is a data management and business intelligence startup that provides software and consulting solutions to Pharmaceutical and Life Sciences corporations in the areas of compliance, marketing and commercial operations. qordata will inherit Streebo's Open Payment Analytics platform that serves over 40 leading customers in the Pharma and Life Sciences industry.
"The decision to separate into two companies reflects our ongoing commitment to implementing bold changes in order to deliver sustainable growth and enhanced value to our customers," said Usman Memon, managing partner and co-founder, Streebo, Inc.
qordata will be led by CEO Mohammad Ovais and will be headquartered in Princeton, New Jersey. The main driving force behind this move is innovation and commitment to become leaders in data management & business intelligence sector for Pharmaceutical and Life science corporations. qordata's core strategy will focus on strengthening its pharmaceutical and life science industry portfolio.
"We expect to work closely with pharma, life sciences, medical device and diagnostic companies to provide software and solutions that solve critical business problems. Now with a targeted focus, qordataseeks to accelerate innovation and become the go-to partner for pharma companies on data and information management," said Mohammad Ovais, CEO, qordata.
The two businesses operate in distinct markets and possess unique and compelling growth prospect. In addition, Streebo believes that the separation will result in other material benefits to the standalone companies, including:
- Greater management focus on the distinct business of pharmaceutical and life science software and consulting products.
- Benefit from independent management teams, each equipped with the resources, strategic autonomy and financial flexibility.
About qordata: qordata is a data management and business intelligence startup that provides software and consulting solutions to Pharmaceutical and Life science corporations. qordata's core competencies and expertise are in data analytics, integration, master data management and big data. Open Payments Analytics will be rebranded as qordata insights.
About Streebo: Streebo, headquartered in Houston, Texas, is an IBM Business Partner and a global provider of automated solutions. Streebo partners with its clients to streamline complex business processes and applies software automation techniques to rapidly assemble business solutions.
This content was issued through the press release distribution service at Newswire.com. For more info visit: http://www.newswire.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/streebo-spins-off-its-pharmaceutical-software--consulting-solutions-to-a-new-start-up-called-qordata-300244665.html