Accelrys acquires ChemSW
6 September 2013Tweet
Accelrys has acquired ChemSW, a provider of chemical inventory management software systems. ChemSW’s Environmental Health & Safety (EH&S) compliance solutions eliminate the inconsistencies and errors associated with paper-based methods of chemical inventory management, and are available both on premises and via the cloud. With the acquisition of ChemSW, Accelrys offers an automated inventory system for tracking and tracing chemicals that includes monitoring and tracking location and quantity specifics; monitoring usage; generating reports and quickly assessing hazard information during an emergency.
‘Accelrys is taking a major step forward in delivering solutions that support predictive sustainable innovation; we look forward to welcoming the ChemSW team and integrating their software solutions into our larger platform,’ said Accelrys president and CEO, Max Carnecchia. ‘Environmental health and safety is critical for companies across industries that rely on science to innovate – from specialty chemicals and consumer packaged goods to food and beverage, agro-science, biopharmaceuticals, and oil and gas. By adding this solution to our portfolio, we continue to set ourselves apart, providing scientific innovation lifecycle management solutions that close the productivity gap, reduce costs and ultimately speed innovation while ensuring sustainability measures are intensified.’
In consideration for acquiring all of the outstanding capital stock of ChemSW, Accelrys agreed to pay a total of approximately $15.3 million in cash to the ChemSW shareholders, subject to working capital and other adjustments. In addition, certain executives of ChemSW may be entitled to receive up to $2.0 million based on achievement of certain operating milestones during the first two years following the date of the closing of the transaction. Accelrys will retain the entire ChemSW management team and employees as part of the transaction.