Information management systems provider Symyx Technologies, Inc., US, and Accelrys, Inc., US, have announced a merger agreement. Accelrys develops scientific business intelligence software and solutions for the life sciences, energy, chemicals, aerospace, and consumer products industries.
The merger, structured as a tax-free all-stock merger of equals, was approved by both companies' Boards of Directors. Under the terms of the agreement, Symyx shareholders will receive 0.7802 shares of Accelrys common stock for each share of Symyx. Following the completion of the merger, Accelrys and Symyx shareholders will each own approximately 50 percent of the combined company.
The merger is expected to be completed by the end of June 2010, subject to customary closing conditions, shareholder and regulatory approvals. Max Carnecchia, chief executive officer of Accelrys, will serve as chief executive officer of the combined company. Isy Goldwasser, chief executive officer of Symyx Technologies, will serve a transitional role in the combined company. The company will be headquartered in San Diego, California. The combined company will have more than 1,350 customers, including 29 of the top 30 biopharmaceutical companies, all five top chemical companies, all five top aerospace companies, three of the five top consumer packaged goods companies, a number of top US Federal Government Agencies, as well as many top academic institutions.
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