Royal Philips inked a deal today to acquire the image analysis software vendor TomTec Imaging Systems GmbH.

The Munich-based company, which specializes in diagnostic ultrasound software, offers a portfolio of multi-modality, vendor-neutral diagnostic and analysis applications for cardiology, radiology and OB/GYN.

Philips is already a leader in the ultrasound market with a large global installed base and a track record of innovations such as real-time 3-D cardiac imaging, anatomical intelligence quantification tools and portable solutions.

The company believes this deal will strengthen its stake in the cardiac ultrasound market and help it expand in other clinical areas like OB/GYN. TomTec has much to offer in terms of clinical applications, workflow solutions and R&D capabilities.

"We are committed to providing ultrasound solutions that combine superb image quality with advanced analytics to drive efficiency and reproducibility, while reducing costs for our customers," Vitor Rocha, business leader of the Ultrasound Business Group at Philips, said in a statement.

TomTec's software is currently in use by more than 20,000 physicians and 600 health care facilities around the world.

It was founded in 1990 and has offices in the U.S., Europe and Asia. Once the transaction is complete, TomTec's more than 100 employees will become part of the Philips' Ultrasound Business Group, but the products will continue to be vendor-neutral.

This marks Philips' third acquisition in the last month. In June, Philips purchased EEG technology manufacturer Electrical Geodesics for €32.9 million and cardiac device company Spectranetics for €1.9 billion.

The TomTec deal is expected to close later today. Financial details have not been disclosed at this time.

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