Venture firms exit through QUMAS sale to Accelrys

Fidelity Growth Partners Europe has divested of its interest in software company QUMAS through a trade sale.

Enterprise compliance software firm QUMAS has been bought by Accelrys for $50 million (£30 million).

The deal involving the Irish company sees existing investors Fidelity Growth Partners Europe and General Catalyst Partners exit.

QUMAS works with pharmaceutical, biotechnology and medial device companies to provide regulatory, quality and compliance software services.

The company closed a $10 million funding round involving Fidelity Growth Partners Europe and General Catalyst Partners in 2005.

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The acquisition is said by Accelrys to extend its informatics portfolio by adding ‘mission-critical, end-to-end document and process management’ services.

Kevin O’Leary, CEO of QUMAS, comments, ‘In connecting science to business and in bridging the scientific and business communities through our compliance and quality solutions, QUMAS is delighted to join forces with Accelrys.

‘Joining the market leader in scientific innovation lifestyle management enables QUMAS to extend it strong customer momentum into other business areas currently being service by Accelrys.’

O’Leary, who was shortlisted as Entrepreneur of the Year by EY in 2009, was part of the launch team at QUMAS back in 2004 before moving to the US to establish a presence there in 1997. Having returned to Ireland in 2002, he then went on to become CEO in 2007.

From its bases in Cork and Jersey City in the US, QUMAS reported revenues of €14 million for the last financial year.

Accelrys president and CEO Max Carnecchia says. ‘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.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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