Symyx Technologies, Inc. And Accelrys, Inc. Receive All Stockholder Approvals Necessary To Complete Merger
Symyx Technologies, Inc. (NASDAQ: SMMX) announced that at today’s Special Meeting its stockholders approved the merger with Accelrys, Inc. (NASDAQ: ACCL) under which Symyx stockholders will receive 0.7802 shares of Accelrys common stock for each share of Symyx they own. Accelrys also today announced that at its Special Meeting of stockholders, Accelrys received from its stockholders all approvals necessary to complete the merger. Following the completion of the merger, Accelrys and Symyx stockholders will each own approximately 50 percent of the combined company. The transaction will close promptly after the satisfaction of certain remaining conditions, which is anticipated to occur on July 1, 2010.
“We are pleased with the outcome of today’s vote,” said Isy Goldwasser, Chief Executive Officer of Symyx. “On behalf of the Board and management team, I want to thank our stockholders for their support throughout this process. The merger of Accelrys and Symyx creates an industry-leading informatics software company, with minimal product overlap and a diversified, global customer base. We look forward to closing the transaction as expeditiously as possible.”
UBS Securities LLC is acting as financial advisor to Symyx, Jefferies & Co, Inc. is acting as financial advisor to Accelrys, Cooley LLP is acting as Symyx’s legal advisor and Paul Hastings Janofsky & Walker LLP is acting as Accelrys’ legal advisor.
About Symyx Technologies, Inc.Symyx Technologies, Inc. (NASDAQ:SMMX) helps R&D-based companies in life sciences, chemicals, energy, and consumer and industrial products achieve breakthroughs in innovation, productivity, and return on investment. Symyx software and scientific databases power laboratories with the information that generates insight, enhances collaboration and drives productivity. Products include a market-leading electronic laboratory notebook, decision support software, chemical informatics and sourcing databases. Information about Symyx, including reports and other information filed by Symyx with the Securities and Exchange Commission, is available at www.symyx.com. About Accelrys, Inc. Headquartered in San Diego, California, Accelrys develops scientific informatics software and solutions for the life sciences, energy, chemicals, aerospace, and consumer products industries. Customers include many Fortune 500 companies and other commercial entities, as well as academic and government entities. Accelrys has a vast portfolio of computer-aided design modeling and simulation offerings which assist customers in conducting scientific experiments ‘in silico’ in order to reduce the duration and cost of discovering and developing new drugs and materials. Its scientific informatics platform underlies the company’s computer-aided design modeling and simulation offerings. The Accelrys platform can be used with both Accelrys and competitive products, as well as with customers’ proprietary predictive science products. Its flexibility, ease-of-use and advanced chemical, text and image analysis and reporting capabilities enable customers to mine, aggregate, analyze and report scientific data from disparate sources, thereby better utilizing scientific data within their organizations. For more information about Accelrys, visit http://www.accelrys.com/. Forward-Looking Statements The statements in this release regarding the expected strength and positioning of the combined company in the market place and the expected closing date of the merger are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of Symyx management and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Symyx does not undertake any obligation to update or revise these statements, whether as a result of new information, future events or otherwise.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.