Symyx Technologies to Acquire MDL Information Systems from Elsevier
News Aug 13, 2007
Symyx Technologies, Inc. has announced it has entered into a definitive agreement to acquire certain content and software products of MDL Information Systems for $123 million in cash (subject to a working capital adjustment) from Elsevier Inc.
Through this acquisition, Symyx will become a leader in R&D informatics with: - expanded portfolio of complementary, integrated desktop and enterprise R&D informatics offerings, including software, content, systems and services essential to critical R&D activities in the life sciences, chemicals and energy industries.
Combining Symyx and MDL offerings has the opportunity to create the complete set of solutions available to enhance the efficiency and productivity of R&D in these industries.
Symyx, based in Santa Clara, CA, provides electronic lab notebook (ELN), automation and scientific decision-support software, automated lab systems (workflows) and collaborative research services to improve R&D productivity.
MDL, based in San Ramon, CA, provides technical R&D software solutions to more than 1,000 life sciences companies. MDL’s integrated informatics and content solutions for discovery chemistry and biology include its ISIS and Isentris platforms, and such industry standards as MDL Draw, MDL Direct, Available Chemicals Directory (ACD) and DiscoveryGate.
With this solution set, Symyx will be able to accelerate its customers’ move toward paperless labs by integrating content, collaborative desktops, automation and information management for users, workgroups and the enterprise.
Following the closing of the acquisition, Symyx expects to work closely with Elsevier in key areas as part of a continuing strategic relationship to support existing and new customers. As part of this ongoing relationship, customers are expected to benefit from investment and enhancements to MDL offerings.
The transaction is expected to close during the fourth quarter of 2007 and is subject to customary closing conditions and documentation, including clearance under applicable antitrust laws. Thomas Weisel Partners LLC acted as exclusive financial advisor to Symyx and provided a fairness opinion to the Symyx Board of Directors.
MDL and Elsevier concluded that they can best serve customer needs by operating as independent partners, cooperating and collaborating on projects where appropriate to add value for customers. Symyx intends to continue investing in MDL to expand customer offerings.
Following the sale to Symyx of the infrastructure-related software applications and databases of MDL, the content assets of MDL retained by Elsevier – including CrossFire Beilstein, the Patent Chemistry Database, Gmelin and PharmaPendium - will be integrated within Elsevier’s Science & Technology operations.
Elsevier sees considerable opportunities in the pharma biotech sector and will capitalize on these through a content-led approach, providing for researchers essential content linked to new R&D and productivity tools.