Dublin based medical education technology company 3D4Medical has been bought by Elsevier for €46m.
3D4Medical was founded over a decade ago by chief executive John Moore and builds interactive software to help those involved in medical learning and teaching.
Its products have been downloaded over 20 million times and were featured by Apple during a product launch in 2015.
The sale will generate net cash of over €17m for Dublin-listed life sciences company Malin Corporation, which owned 38% of 3D4Medical.
This represents a 10% premium to the estimated fair value of Malin's stake.
Elsevier, which is part of RELX, is a global leader in anatomy education and content, with world leading brands including Netter, Gray's Anatomy, Sobotta and McMinn & Abrahams.
3D4Medical has transformed medical learning and practice around the world with its proprietary and ground-breaking 3D medical technology.
Dublin's 3D4Medical bought by Elsevier for €46m pic.twitter.com/AmdKG0flMf— RTÉ Business (@RTEbusiness) November 27, 2019
Headquartered in Dublin, 3D4Medical has 75 employees and is being sold entirely to Elsevier.
Darragh Lyons, chief executive of Malin and a board member of 3D4Medical, said the net proceeds from today's deal will strengthen the company's capital position.
"The divestment of this position is in line with Malin's stated strategy of realising capital from the Growth Potential Asset group as assets mature to optimal value inflection points," he added.
Malin bought its stake in 3D4Medical in 2015 for $16.4m.