Combination Adds Unique Capabilities, Expands Contract Management Leadership
Bridgewater, NJ – December 2, 2020 – iContracts, a leading provider of cloud-based contract, compliance, and revenue management solutions today announced that it has acquired Brentwood, TN based Ecteon. The addition of Ecteon, a long-time provider of leading edge contract management solutions to the Healthcare, Insurance, Life Sciences, and other industries, brings truly unique capabilities to iContracts’ platform and customers.
“We are excited to join forces with iContracts as we continue our mission of bringing the most advanced technology and services to bear on the rapidly expanding market for contract management solutions,” noted Richard Eckerstrom, Chief Executive Officer of Ecteon. “The combination provides us with the opportunity to deliver even greater value to our joint clients while providing our team members with new opportunities for career growth. This is a great day for all of our stakeholders.”
“Ecteon shares with iContracts a common history of innovation and extraordinary customer service,” commented Leigh Powell, Chief Executive Officer of iContracts. “The company and its dedicated team members have done an amazing job of building a true leader in the industry and we look forward to working together to fully realize our vision of contract management as the essential framework governing B2B commerce. We welcome the employees and customers of Ecteon to the iContracts’ family and look forward to growing together.”
Ecteon was represented in the transaction by Stonecroft Capital, LLC, headquartered in Boulder, Colorado.
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with considerable and unique experience in building contract management solutions. This deep understanding and straightforward approach shows in everything we do. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.
Ecteon is one of the founders of the contract management automation industry and from its beginning until today has been one of the industry’s technology leaders. Ecteon’s premier enterprise content management system, Contraxx, helps companies manage especially complex or rapidly evolving contracting requirements, often in highly regulated environments. Implemented with Ecteon’s Standard Framework best practices structure and incorporating Ecteon’s Exxtractor-AI to extract meaning from contracts and Ecteon’s Connect-API to link contract data to systems throughout the enterprise, Ecteon’s systems increasingly put contract management in a central position in the enterprise knowledge structure. For more information, please visit www.ecteon.com.