Symyx to acquire Synthematix

Feb. 24, 2005 — Symyx Technologies Inc. (NASDAQ: SMMX), a Santa Clara, Calif.-based provider of high-throughput discovery tools for materials, chemicals and other industries, announced it has signed a definitive agreement to acquire privately-held Synthematix Inc. of Research Triangle Park, N.C.

Synthematix is a provider of software for knowledge management in chemistry research, with customers primarily in the pharmaceutical and biotechnology industries. The company says the acquisition would enable Symyx to broaden its software offerings with additional capabilities for pharmaceutical discovery and biotech research.

Under the terms of the agreement, Symyx will pay approximately $13 million in cash to acquire all outstanding shares of Synthematix based on Synthematix’s current revenue outlook, plus additional money over a one year period based on achievement of incremental revenue targets.

The acquisition of Synthematix has been approved by the boards of directors of both companies and is expected to close in April.

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