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Apr 5, 2010

Accelrys and Symyx Couple Informatics Offerings through Merger

  • Accelrys and Symyx Technologies are combining their informatics expertise in a tax-free, all-stock merger of equals. Together they will have a market capitalization of approximately $335 million, cash reserves of about $150 million, and more than 1,350 customers. After initial integration, full-year savings due to synergies are expected to be in the range of $10 million–$15 million.

    Accelrys’ portfolio comprises computer-aided design modeling and simulation offerings that assist customers in conducting in silico scientific experiments. Symyx’ products include an electronic laboratory notebook, decision-support software, chemical informatics, and sourcing databases.

    Under the terms of the agreement, Symyx shareholders will receive 0.7802 shares of Accelrys common stock for each share of Symyx. The merger is expected to be completed by the end of June. The company will be headquartered in San Diego, CA.

    “Scientific R&D organizations are challenged by the need to increase productivity and performance while grappling with budget pressures, restructuring, changes in scientific processes, and globally dispersed operations,” comments Max Carnecchia, CEO of Accelrys who will continue as CEO of the new company. “These forces are creating profound changes in the processes of scientific discovery and the way R&D teams interact. New software solutions are urgently required to address these fundamental changes, and the merger of Accelrys and Symyx creates a new, leading force in the industry to address this situation.”

    Isy Goldwasser, CEO of Symyx who will serve a transitional role in the combined company, adds, “The merger of Accelrys and Symyx creates a differentiated company that is uniquely qualified to advance the state of the scientific informatics software industry.

    “No other company combines our deep domain knowledge in chemistry, biology and materials science, enterprise software capabilities (in scientific data management, decision support, and analytics), professional expert services, and a broad choice of partners. This powerful and synergistic combination with Accelrys allows us to meet the changing needs of our customers by delivering more agile, flexible, and open scientific R&D environments through adaptive end-to-end workflow solutions.”

     



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