Veeva Systems Acquires Ostro, a Leading Brand Engagement Platform for Life Sciences

Veeva Systems, a cloud software company in the life sciences industry, has successfully acquired Ostro, the foremost brand engagement platform for life sciences. Ostro provides a user-friendly AI-driven chat experience that offers immediate and compliant responses to patients and doctors.

The platform enables customers to ask questions and receive approved information, resources, and next steps in real-time. It also generates valuable insights to enhance brand reach and engagement. The acquisition, valued at approximately $100 million in cash and long-term equity retention grants, will see Ostro operate as an independent unit within Veeva Systems.

Furthermore, the companies plan to integrate Ostro with Veeva's Commercial Cloud applications to create seamless workflows connecting online and field engagements for enhanced customer centricity.