NEW YORK (GenomeWeb News) - Symyx Technologies said today that it will acquire MDL Information Systems from Elsevier for $123 million in cash.
Symyx, based in Santa Clara, Calif., is a provider of electronic lab notebooks as well as other scientific decision-support software. The acquisition will provide it with MDL's full suite of informatics and database tools, including its ISIS and Isentris platforms, MDL Draw, MDL Direct, the Available Chemicals Directory, and DiscoveryGate.
The acquisition is expected to close in the fourth quarter of 2007. Symyx said the combined software and database operations are expected to reach around $100 million in revenues in 2008.
Symyx said that MDL currently has more than 1,000 customers and around 50,000 users for its content and software.
Isy Goldwasser, Symyx's chief executive officer, said that MDL is an “ideal strategic complement” to the company’s existing businesses, “as our market leadership in tools and research services will now be joined by expanded offerings in a substantially strengthened Symyx software business.”
Symyx said it plans to work closely with Elsevier as "part of a continuing strategic relationship to support existing and new customers."