San Diego-based research and development software company Accelrys Inc. has acquired privately held VelQuest Corp. for $35 million.
The all-cash transaction was announced Tuesday. VelQuest, known for its paperless lab execution systems supporting current good manufacturing practices for FDA-regulated industries, will retain its key management members, according to a Tuesday release.
Accelrys' acquisition of VelQuest extends the company's software portfolio into the downstream pharmaceutical development.
“VelQuest’s strong products and proven domain expertise in compliance-intensive laboratory operations expand our ability to meet our life sciences customers’ critical needs in late stage development, quality control and production," said Accelrys' President and Chief Executive Officer Max Camecchia.
Accelrys expects the acquisition to be slightly dilutive to the full year 2012 non-GAAP net income per share. Management will provide detailed full year 2012 guidance when it announces fourth quarter 2011 financial results.