Technology firm Symyx has acquired Autodose, a maker of precision powder-dispensing equipment, as it seeks to develop the next generation of high-throughput benchtop automation systems.
Symyx will be able to offer customers new and existing automated research systems and benchtop systems that combine Autodose's powder-handling technology with the liquid-handling robotics in Symyx's Core Module.
Symyx also plans to further evolve its Tools product line and offer customers new benchtop, modular automation systems designed to meet the needs of a broader section of the laboratory research market.
"This acquisition underscores our commitment to serving the European market, as it provides access to a significant installed base and potential new customer relationships as well as production facilities and a strong field support team," said Symyx CEO Paul Nowak.
"We have demonstrated the compatibility of our products for some time, and now plan to directly combine our technologies into a powerful benchtop automation system that provides expanded capabilities with greater value for customers."
Symyx and Autodose have worked together since 2000, as Symyx has incorporated Autodose's products into systems Symyx has sold to both chemical and pharmaceutical customers.
As a result of the acquisition, Autodose will become a wholly owned subsidiary and European headquarters for Symyx.
"We look forward to building on our long-standing relationship with Symyx, to act on our common vision of developing the next generation of high-throughput benchtop automation systems," said Autodose CEO Gian-Luigi Berini, who will become general manager of the Swiss-based subsidiary.
"We will also be expanding our current focus to provide a European sales and support base for all of Symyx Tools."
Under the terms of the agreement, Symyx will pay approximately SFr8.5m (€5.5m) in cash to acquire all outstanding shares of Autodose, whose assets include approximately SFr2.3m in cash.
In addition, Symyx may pay additional consideration of up to SFr7.7m contingent on achievement of defined 2007, 2008 and 2009 revenue targets for existing Autodose products and certain new, complementary Autodose products under development.