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.