Sept. 15, 2004 – A San Diego-based life sciences software firm will merge with a subsidiary of nanotech software firm Accelrys Inc. (Nasdaq: ACCL, Web), according to a news release. SciTegic this month will become a wholly owned subsidiary of San Diego-based Accelrys, pending customary closing conditions.
SciTegic shareholders will receive $12.25 million of cash and more than 1-million shares of Accelrys common stock in exchange for their SciTegic shares at closing, as well as additional Accelrys shares during the next two years if certain conditions are met. The transaction is valued at about $21.5 million, the release said.