Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why Software & Technology Company iCoreConnect Shares Are Rocketing Today

iCoreConnect Inc (NASDAQ: ICCT) shares are trading higher after it announced an acquisition of Verifi Dental 
byLekha Gupta
January 10, 2024
1 minute read
Total
0
Shares
0
0
0
0
0
0

iCoreConnect Inc (NASDAQ:ICCT) shares are trading higher after it announced an acquisition of Verifi Dental for an undisclosed amount.

This acquisition is expected to boost ICCT’s portfolio of SaaS software solutions for the healthcare market.

Robert McDermott, President and CEO, said, “This strategic acquisition signifies positive momentum for the Company and the advancement of our growth strategy. The addition of Verifi brings iCore enhanced capabilities, a broader market presence, and ultimately improves the value we offer to our customers and stakeholders.”

“We believe the combined strengths of iCoreConnect and Verifi will position us as a formidable force in the insurance verification sector. These strengths will bring us complementary expertise, and additional products and service offerings, including synergies and operational efficiencies.”

Earlier this month, ICCT acquired Teamworx Dental to boost its SaaS software solutions offering for an undisclosed amount.

Also, last week, the company bought FeatherPay to expand its portfolio in the fintech sector.

As of September 2023, the company held cash of $0.457 million.

Price Action: ICCT shares are up 17.69% at $1.53 premarket on the last check Wednesday.

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Organigram Reports 16% YoY Revenue Drop But Kicks Off Year ‘With A Bang,’ Says CEO On Hundreds Of Millions In Tobacco Giant BAT Investment

By Jelena Martinovic
February 13, 11:45 AM
Canadian cannabis producer Organigram reported a 16% decrease in net revenue for Q1 2024 due to a reduction in international revenue and medical sales. The company announced in November that it had received a CA$124.6m ($93m) strategic equity investment from BT DE Investments, a subsidiary of tobacco company British American Tobacco. Organigram shareholders approved the investment in January, and the company completed the first tranche of the investment for $41.5m. CEO Beena Goldenberg said the investment had removed a significant amount of risk from Organigram's business and enhanced its competitive advantages. The investment allows the cannabis producer to utilize its facilities, research and development capabilities, and market leadership to expand its reach within the Canadian market and beyond. Organigram's Q1 financial highlights included a drop in gross margin, an increase in selling and administrative expenses, a net loss of CA$15.8m, and positive adjusted EBITDA of CA$135,000.

BTI