Symyx Builds Software Business By Acquiring MDL
Symyx told investors in a conference call that the acquisition enhances its operational capabilities by expanding the company’s global sales and distribution capabilities and partnerships, increasing its presence in the pharmaceutical discovery business, and complementing its application and service resources. Based in San Ramon, California, Symyx has around 315 employees. Reed Elsevier purchased MDL in 1997 for $320 million (see IBO 4/30/97). MDL’s products include the ISIS and Isentris platforms and DiscoveryGate.
Santa Clara, CA and New York, NY 8/10/07—Symyx Technologies has agreed to acquire the infrastructure-related software applications and selected databases of MDL Information Systems from Elsevier for $123 million in cash. Elsevier will retain certain MDL content assets, including the CrossFire, Beilstein, the Patent Chemistry, Gmelin and PharmaPendium databases. MDL provides informatics framework and workflow solutions, as well as chemical and biological databases. According to Symyx, MDL has over 1,000 customers and approximately 50,000 users in the life sciences and chemicals industries. Symyx forecasts 2008 pro forma revenues for its software business of $100 million and expects the transaction to be accretive in 2008. Symyx and Elsevier will continue to partner and collaborate on projects to serve their customers, including content access from MDL products. The acquisition is expected to close in October.
