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Tripos to Acquire Optive Research for $8M in Stock, Cash

NEW YORK, Dec. 22 (GenomeWeb News) - Tripos plans to acquire Optive Research, a discovery informatics software developer, for approximately $8 million in stock and cash, the St. Louis-based company said today.

 

Under the agreement, Optive shareholders will receive 599,521 shares of Tripos common stock, worth about $3.2 million at the end of trading yesterday, and $4.75 million in cash. A new group of investors will fund the cash portion of the deal through $3.5 million of subordinated debt, 111,606 shares of common stock, and warrants to purchase 156,250 shares of common stock.

 

The acquisition is expected to close in January. Tripos expects Optive to contribute to its operating income in 2005, and to net income beginning in 2006.

 

Tripos already distributes five or more than 15 software products from Optive, a 2002 spinout from the University of Texas at Austin.

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