Accelrys Inc. (ACCL) Announces Merger Agreement With SciTegic, Inc.; $21.5 Million
10/19/2005 5:10:06 PM
Accelrys, Inc. (Nasdaq:ACCL) today announced the signing of a definitive agreement to merge SciTegic, Inc., a leading provider of workflow software solutions for the research science market, with a wholly-owned subsidiary of Accelrys. SciTegic shareholders will receive $12.25 million of cash and approximately 1,040,119 shares of Accelrys common stock in exchange for their Scitegic shares at closing, and approximately 334,324 additional Accelrys common shares over the next two years subject to certain conditions. SciTegic will become a wholly-owned subsidiary of Accelrys. The transaction is valued at about $21.5 million.