Hoping to take drug R&D into the cloud, Insightful Science snaps up data management outfit Dotmatics
As companies quickly move toward more innovative methods of R&D to increase scientists’ efficiency, two software companies announced that they will join forces Monday in the latest string of cloud-based deals.
UK software provider Insightful Science will acquire Dotmatics, a cloud-based scientific R&D data management platform based in San Diego. The combination is intended to improve laboratory efficiency and facilitate quicker data access, analysis and exchange between scientists, the companies said.
Financial terms were not announced in the press release Monday, but Bloomberg reports that the deal is valued at up to $690 million. The move could generate over $100 million in revenue, the release said, and will improve lab efficiency for more than 1 million scientists.
“This announcement signals a significant transformation in the future of software and data management in research labs,” Insightful CEO Thomas Swalla said in a statement. “Together our complementary businesses create an end-to-end cloud-first scientific research platform that stands apart in our collective ability to support data-driven research.”
Dotmatics was founded in 2005 by two scientists from Merck and has since grown to a team of over 260 scientists. It’s a scientific informatics software and services company that is focused on the automation of laboratory workflow.
“This combination allows us to expand investments in our Dotmatics platform and strengthen our brand as a leading enterprise informatics solution provider,” Dotmatics CEO and co-founder Stephen Gallagher said in a statement.
The acquisition further highlights the industry’s increase in cloud-based software deals. In September, Flagship invested $100 million in cloud computing. Earlier in March, the company received a $110 million investment from Koch Disruptive Technology.
In late February, New York-based Schrödinger finalized a deal with Google Cloud to increase the speed and capacity of its platform for drug discovery, a move the company said tripled its previous capacity.