Paul Hastings Advising Accelrys on Merger with Symyx Technologies
San Diego (April 6, 2010)- Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm is advising Accelrys, Inc., a scientific informatics software and services company, on its merger with Symyx Technologies, Inc. The merger is expected to be completed by the end of June 2010.
The merger, structured as a tax-free, all-stock merger of equals, was approved by both companies' Boards of Directors. On a combined basis, Accelrys and Symyx have a pre-announcement market capitalization of approximately $335 million, cash reserves of approximately $150 million (net of transaction costs), and no debt. Following the completion of the merger, Accelrys and Symyx shareholders will each own approximately 50 percent of the combined company.
Carl Sanchez, chair of the firms Global Mergers & Acquisitions practice led the Paul Hastings team, which included partners Stephen Harris, Alexander Lee, of counsel Hart Holden, and associates Scott Oross and Elizabeth Razzano.
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