Irvine-based CompIQ Corp., a provider of workers’ compensation claims services and software, is being bought for $22 million by Dallas-based Affiliated Computer Services Inc., a big provider of outsourced services for companies and governments.
CompIQ provides medical bill review and cost-containment services for workers’ compensation, health and liability insurers. The company has yearly sales of $17 million.
The deal includes contingent payments based on CompIQ’s future performance. It is set to close in May.
The company is set to become ACS CompIQ. Its existing executives, including founder and Chief Executive Art Zeiner, and 130 workers are joining ACS.
Zeiner started CompIQ in 1997. This is his second company sale: In 1994, he sold two bill review companies to Foundation Health Group.
Affiliated Computer Services has yearly sales of nearly $6 billion and a recent market value of $5 billion.
The company provides healthcare claims processing, finance and accounting, human resources, payment processing and other business services.
