Accelrys said it acquired ChemSW, a provider of environmental health & safety (EH&S) compliance software solutions for managing chemical sources, use, and disposal, in a deal that could cost the acquiring company up to $17.3 million.
By acquiring ChemSW, Accelrys said, it can offer customers an automated inventory system that monitors and tracks location and quantity specifics, monitors usage, generates reports, and assesses hazard information during emergencies. The system is available both on premises and via cloud computing.
Accelrys also said its customers can use ChemSW's EH&S software to help support their sustainability efforts by addressing three key areas: improving operational efficiency, delivering innovation, and meeting compliance requirements.
Accelrys agreed to acquire all ChemSW shares for $15.3 million, then pay out up to $2 million to unspecified ChemSW executives tied to undisclosed operating milestones during the first two years following the date of the closing. Accelrys said it will retain the entire ChemSW management team and employees as part of the deal, disclosed yesterday.
“The ChemSW team looks forward to joining Accelrys and working together to deliver new value to the scientific ecosystem," Brian Stafford, ChemSW’s president and CEO, said in a statement.