NEW YORK, NY / ACCESSWIRE / August 27, 2018 / It was a day of gains for both Zuora Inc. and Alliance MMA. While Zuora didn’t have any news to report, Alliance MMA will be acquiring SCWorx Corp., a privately held provider of data content and services related to the repair, normalization and interoperability of information for healthcare providers and big data analytics for the healthcare industry.
RDI Initiates Coverage on:
Alliance MMA, Inc.
Zuora, Inc. shares closed up 10.64% on Friday with around 1.8 million shares traded. There was no news from the company to explain the gains and the unusual volume increase. It was earlier in the month that Mad Money's Jim Cramer said he would buy more Zuora Inc. if it trades lower. The company provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. It offers Zuora Central platform that acts as an intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition. Its products include Zuora Billing, Zuora RevPro, Zuora CPQ, Zuora Insights, and Zuora Collect. Zuora, Inc. sells its products through its direct sales force and with GSI partners to various industries comprising software, hardware, media, transportation, construction, healthcare, education, retail, Internet of Things, and others worldwide. Zuora will report financial results for its second quarter of fiscal 2019, which ended July 31, 2018, following the close of market on Thursday, August 30, 2018.
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Alliance MMA, Inc. shares closed up 110.32% on Friday on colossal trading volume of over 21 million shares. It was announced last week that the company will acquire SCWorx Corp., a big data software-as-a-service company that has a focus on the healthcare market. A definitive agreement has been signed under which AMMA will acquire SCWorx in an all-stock transaction, resulting in SCWorx acquiring a controlling interest in AMMA. Per the press release, "upon closing, on a pro forma basis for the combined company, the existing AMMA and SCWorx shareholders are expected to own approximately 20% and 80%, respectively, of the issued and outstanding common stock of AMMA (based upon a presumed share price for AMMA of $0.67 on the Closing Date, subject to adjustment if the per share price of AMMA stock is less than $0.67 per share at the Closing Date.)." Alliance MMA’s Chairman of the Board, Joel Tracy, remarked, "We are looking forward to completing the transaction with SCWorx. They are among the leading data normalization software providers that are changing the way
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