NEW YORK (GenomeWeb News) – Accelrys has bought Qumas, a provider of cloud-based and on-premise enterprise compliance software for regulatory and quality operations in regulated industries including the life sciences, for $50 million.
Accelrys said that the added intellectual property extends its informatics portfolio by providing document and process management compliance solutions that improve its ability to help customers reduce regulatory risks and quality costs, improve compliance, and increase operational efficiency across their product development lifecyles.
Operating from offices in Cork, Ireland and New Jersey, Qumas provides an electronic document management application with related research and development submission and QA documentation packages based on customer and industry requirements and best practices.
Its business process management applications include corrective action/preventive action, audit, change control, deviation, complaint, and more. For the last two decades, the company has been involved in integrating content, processes, people, and systems into enterprise compliance programs that eliminate the cost and complexity associated with managing paper-based, disparate or legacy document management applications.
As part of an integrated solution, Accelrys said that applications such as the Accelrys Electronic Lab Notebook, Accelrys Laboratory Information Management System, Accelrys Lab Execution System, and Accelrys Discoverant for Operational Intelligence will function as data sources and integration points for the compliance and quality business systems that Qumas’ solutions manage.
"Integrating QUMAS solutions into the Accelrys product portfolio will provide a single-vendor [scientific innovation lifecycle management] solution that is already in high demand for product lifecycle management into the critical compliance and quality management arena for science-based process industries," Accelrys President and CEO Max Carnecchia, said in a statement.
It also enables Qumas to extend its customer base in other business areas currently served by Accelrys, Qumas CEO Kevin O’Leary added.
Under the terms of the agreement, in consideration for acquiring all of the outstanding capital stock of Qumas, Accelrys agreed to pay to the company’s shareholders a total of approximately $50 million in cash, subject to working capital and other adjustments. The transaction is expected to be neutral to Accelrys' non-GAAP earnings per share for the year ending Dec. 31, 2013, with a $1 million to $2 million non-GAAP revenue contribution.
Qumas had revenues of $15.2 million for the year ended Dec. 31, 2012.
This is Accelrys' second acquisition for the year. In January, the company bought Vialis, a systems integration firm headquartered in Liestal, Switzerland, for up to $10 million.
In its most recent financial report, Accelrys posted a 1 percent bump in third quarter revenues for a total of $40.9 million for the three months ended Sept 30, compared to $40.5 million for the same period a year ago.