Transcend Announces Acquisition of Salar for $11M

Transcend TRCR today announced its acquisition of Salar Inc. in an $11 million cash for stock transaction that closed July 29, 2011. It is anticipated that the acquisition will give Transcend a stronger foothold in the hospital setting and provide its customers added functionality and flexibility. Founded in 1999 and headquartered in Baltimore, Salar's solutions are used by leading academic and community hospitals. The company generated $4 million of revenue and $1.2 million of operating income in 2010 and is growing.