EX-99.1
3
ex99_1.htm
EXHIBIT 99.1
ex99_1.htm
EXHIBIT
99.1
Symyx
Technologies, Inc. Closes Acquisition of MDL Information
Systems
SANTA
CLARA, CA-October 2, 2007-Symyx Technologies, Inc. (Nasdaq: SMMX) announced
today it has closed the acquisition of certain software and content products
of
MDL Information Systems for $123 million in cash, subject to working capital
and
other adjustments, from Elsevier Inc.
"We
are
very pleased to have closed the MDL acquisition. This acquisition
transforms Symyx Software into a leading provider of R&D informatics
offerings for the life sciences and chemicals industries", said Isy Goldwasser,
Symyx chief executive officer. "The transaction further strengthens Symyx's
ability to offer integrated R&D informatics, automation and workflow
solutions to scientists and lab professionals, including our complementary
Symyx
Tools and Research Services. The acquisition also affirms our
commitment to, and accelerates our efforts to implement, higher transaction
operating capabilities while extending our international reach through our
combined 50-person field force across an installed base of 50,000 users. We
will
work hard to successfully integrate our operations and to realize what we
believe will be significant synergies".
Symyx
funded the $123 million purchase price from its available cash. The final
purchase price remains subject to a working capital and other adjustments.
Symyx
expects to incur significant restructuring and one-time acquisition costs in
Q4
2007.
Symyx
has
put in place a $25 million back-up line of credit to support working capital
requirements as well as future growth initiatives.
Symyx
expects to provide guidance for the fourth quarter and full year 2007,
historical financial information for MDL and guidance for 2008 at its third
quarter earnings call scheduled for Wednesday, October 24, 2007.
About
Symyx
Symyx
Technologies, Inc. is an R&D execution partner to the life sciences,
chemicals, energy, consumer products and electronics industries. Symyx
provides electronic lab notebook and scientific decision-support software,
automated lab systems (workflows) and collaborative research services to improve
R&D productivity. Information about Symyx, including reports and other
information filed by Symyx with the Securities and Exchange Commission, is
available at www.symyx.com.
The
statements contained in this release that are not historical are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933
and
Section 21E of the Securities Exchange Act of 1934, including, without
limitation, statements regarding successful integration efforts and the
achievement of synergies from the acquisition. These forward-looking statements
involve risks, uncertainties and assumptions, including: (1) failure to execute
under existing contracts in order to recognize committed revenue as planned;
(2)
inaccurate assessment of demand for Symyx's offerings or failure to close new
contracts with customers as forecasted; (3) risks inherent in
integrating and operating our combined software operations post-close, (4)
risks
associated with restructuring activities, (5) risks inherent in
organization and leadership changes, and (6) other risks we describe
in our filings with the Securities and Exchange Commission (including but not
limited to Symyx's quarterly report on Form 10-Q for the quarter ended June 30,
2007). If any of these risks or uncertainties materialize or any of the
assumptions prove incorrect, Symyx's results could differ materially and
adversely from Symyx's expectations in these statements. Symyx assumes no
obligation, and does not intend, to update these forward-looking statements
except as the law may require.
###
For
more
information:
Teresa
J.
Thuruthiyil
Vice
President, Investor and Public Relations
Symyx
Technologies, Inc.:
(408)
773-4075
ir@symyx.com

EX - 99 . 1 3 ex99 _ 1 . htm EXHIBIT 99 . 1 ex99 _ 1 . htm EXHIBIT 99 . 1 Symyx Technologies , Inc . Closes Acquisition of MDL Information Systems SANTA CLARA , CA - October 2 , 2007 - Symyx Technologies , Inc . ( Nasdaq : SMMX ) announced today it has closed the acquisition of certain software and content products of MDL Information Systems for $ 123 million in cash , subject to working capital and other adjustments , from Elsevier Inc . " We are very pleased to have closed the MDL acquisition . This acquisition transforms Symyx Software into a leading provider of R & D informatics offerings for the life sciences and chemicals industries " , said Isy Goldwasser , Symyx chief executive officer . " The transaction further strengthens Symyx 's ability to offer integrated R & D informatics , automation and workflow solutions to scientists and lab professionals , including our complementary Symyx Tools and Research Services . The acquisition also affirms our commitment to , and accelerates our efforts to implement , higher transaction operating capabilities while extending our international reach through our combined 50 - person field force across an installed base of 50,000 users . We will work hard to successfully integrate our operations and to realize what we believe will be significant synergies " . Symyx funded the $ 123 million purchase price from its available cash . The final purchase price remains subject to a working capital and other adjustments . Symyx expects to incur significant restructuring and one - time acquisition costs in Q4 2007 . Symyx has put in place a $ 25 million back - up line of credit to support working capital requirements as well as future growth initiatives . Symyx expects to provide guidance for the fourth quarter and full year 2007 , historical financial information for MDL and guidance for 2008 at its third quarter earnings call scheduled for Wednesday , October 24 , 2007 . About Symyx Symyx Technologies , Inc . is an R & D execution partner to the life sciences , chemicals , energy , consumer products and electronics industries . Symyx provides electronic lab notebook and scientific decision - support software , automated lab systems ( workflows ) and collaborative research services to improve R & D productivity . Information about Symyx , including reports and other information filed by Symyx with the Securities and Exchange Commission , is available at www.symyx.com . The statements contained in this release that are not historical are forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 , including , without limitation , statements regarding successful integration efforts and the achievement of synergies from the acquisition . These forward - looking statements involve risks , uncertainties and assumptions , including : ( 1 ) failure to execute under existing contracts in order to recognize committed revenue as planned ; ( 2 ) inaccurate assessment of demand for Symyx 's offerings or failure to close new contracts with customers as forecasted ; ( 3 ) risks inherent in integrating and operating our combined software operations post - close , ( 4 ) risks associated with restructuring activities , ( 5 ) risks inherent in organization and leadership changes , and ( 6 ) other risks we describe in our filings with the Securities and Exchange Commission ( including but not limited to Symyx 's quarterly report on Form 10 - Q for the quarter ended June 30 , 2007 ) . If any of these risks or uncertainties materialize or any of the assumptions prove incorrect , Symyx 's results could differ materially and adversely from Symyx 's expectations in these statements . Symyx assumes no obligation , and does not intend , to update these forward - looking statements except as the law may require . # # # For more information : Teresa J . Thuruthiyil Vice President , Investor and Public Relations Symyx Technologies , Inc . : ( 408 ) 773 - 4075 ir@symyx.com
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