Accelrys, a provider of scientific innovation lifecycle management software, has acquired ChemSW, an Environmental Health & Safety (EH&S) compliance solutions provider. This acquisition furthers Accelrys' scientific innovation lifecycle management strategy by providing solutions for managing and tracking the source, use and disposal of chemicals along the entire lab-to-plant value chain.
The ability to manage chemicals across the full product lifecycle helps organizations across industries enhance compliance with increasingly complex global, national and local environmental health and safety regulations, and is critical to advancing their sustainability strategies.
ChemSW provides an EH&S compliance portfolio that eliminates the inconsistencies and errors associated with the disconnected paper-based methods of chemical inventory management often used today. Errors and lack of accurate information on the location, quantity and usage of chemicals from lab to plant slows innovation, impacts operational efficiency, can threaten health and safety and puts organizations at risk of non-compliance with environmental health and safety regulations. Accelrys now will offer customers an automated inventory system for tracking and tracing chemicals including monitoring and tracking location and quantity specifics; monitoring usage; generating reports; and quickly assessing hazard information during an emergency.
ChemSW's EH&S compliance software also enables Accelrys to help support the sustainability initiatives of customers in almost every industry. Specifically, the solutions address three key areas critical to meeting the complete business sustainability challenge: improving operational efficiency, delivering innovation and meeting compliance requirements.
While environmental health and safety regulations exist to protect workers, equipment, facilities and the environment from the hazards associated with chemicals, the management of evolving local, state, federal and international EH&S regulatory requirements required throughout the product development lifecycle has become complex and time-consuming. By making current, real-time chemical safety and inventory data available on demand, the ChemSW system meets the evolving business need to manage EH&S requirements as a synergistic whole along the entire lab-to-plant value chain.
Brian Stafford, president and chief executive officer of ChemSW, said, "Outdated modes of tracking chemicals have posed a significant challenge for companies that need to meet and document EH&S compliance requirements. This acquisition brings value to existing ChemSW and Accelrys customers, offering a comprehensive set of software tools for optimizing chemical and materials selection and processing throughout the scientific innovation lifecycle.”
ChemSW offers cloud-based, secure multi-tenant solutions that drive down IT cost. The on-premises solutions allow customization options to meet company-specific security requirements. Both solutions help customers comply with EH&S regulations while reducing the costs associated with chemical purchases and waste.
In consideration for acquiring all of the outstanding capital stock of ChemSW, Accelrys agreed to pay to the ChemSW shareholders a total of approximately $15.3 million in cash. In addition, certain executives of ChemSW may be entitled to receive up to $2 million based on achievement of certain operating milestones during the first two years following the date of the closing of the transaction. Accelrys will retain the entire ChemSW management team and employees as part of the transaction.