Accelrys Extends Informatics Portfolio with $50M QUMAS Acquisition
Accelrys, Inc. a provider of scientific innovation lifecycle management solutions, announced that it has acquired Ireland-based QUMAS, a provider of Cloud-based and on-premises enterprise compliance software supporting regulatory and quality operations in life sciences and other highly regulated industries. The QUMAS acquisition extends Accelrys’ informatics portfolio with the addition of mission-critical, end-to-end document and process management compliance solutions. Quality management solutions supported by robust content and business process management capabilities provided by QUMAS advance Accelrys’ ability to help customers better manage the scientific innovation lifecycle by reducing regulatory risks, lowering quality costs, improving compliance effectiveness and increasing operational efficiency in bringing new products to market.
“Integrating QUMAS solutions into the Accelrys product portfolio will provide a single-vendor SILM solution that is already in high demand for product lifecycle management into the critical compliance and quality management arena for science-based process industries,” said Accelrys President and CEO Max Carnecchia.
“While discovery research remains largely unregulated, it’s clear that the lines across the entire life science value chain are blurring,” said Alan S. Louie, Ph.D., research director, IDC Health Insights. “As a result, companies are increasingly seeking solutions that allow them to manage new product development more holistically, ensuring that compliance and quality is consistent across the entire product lifecycle. This is becoming a differentiator for organizations seeking to bring innovative new products to market faster and more efficiently, especially as translational efforts become increasingly the norm.”
QUMAS has been refining the documentation of compliance with global mandates (including FDA and GxP standards) in regulated industries for 20 years. According to the company, it has achieved an excellent track record of successfully integrating content, processes, people and systems into enterprise compliance programs that eliminate the cost and complexity of managing paper-based as well as disparate or legacy document management applications. QUMAS provides an electronic document management application with related R&D submission and QA documentation packages based on customer and industry requirements and best practices. The business process management applications include CAPA (corrective action/preventive action), audit, change control, deviation, complaint and other critical process packages offering pre-defined and pre-tested software configurations addressing common compliance challenges.
Research, laboratory and manufacturing informatics applications such as the Accelrys ELN (Electronic Lab Notebook), Accelrys LIMS (Laboratory Information Management System), Accelrys LES ( Lab Execution System) and Accelrys Discoverant for Operational Intelligence will function as data sources as well as integration points for the compliance and quality business systems managed by QUMAS for CAPA, annual performance reports and other submissions. Available as SaaS (Software as a Service), private Cloud or on-premises deployments, QUMAS compliance and quality solutions scale to thousands of users and millions of documents, while also fully supporting externalized collaboration with third parties and partner communities.
In consideration for acquiring all of the outstanding capital stock of QUMAS, Accelrys agreed to pay to the QUMAS shareholders a total of approximately $50 million in cash, subject to working capital and other adjustments. The transaction is expected to be neutral to Accelrys' Non-GAAP earnings per share for the year ending Dec. 31, 2013 on $1-2 million in Non-GAAP revenue contribution. The audited financial statements of QUMAS for the years ended Dec. 31, 2012 and 2011 have been prepared in accordance with generally accepted accounting practice in Ireland. The consolidated profit and loss accounts for the years ended Dec. 31, 2011 and 2012 reported revenue of $15.2 million and $19.3 million, respectively.