For Immediate Release
July 21, 2008
CambridgeSoft announces $21M Investment by Goldman Sachs
CAMBRIDGE, MA, July 21, 2008 CambridgeSoft Corporation announced today that it has completed a $21 million private equity investment by Goldman, Sachs & Co. CambridgeSoft is a leading supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries.
In connection with the offering, Raheel Zia, a Vice President of Goldman Sachs Principal Investment Area, will join CambridgeSoft’s Board of Directors.
Mr. Zia stated, “We've been impressed with CambridgeSoft's expertise in the life science software market and look forward to pursuing additional growth opportunities in partnership with the CambridgeSoft management team.”
“I am very pleased that Mr. Zia will be joining the Board,” said Michael G. Tomasic, President and CEO of CambridgeSoft, “His participation underscores a continuing commitment to high growth and financial excellence for the company and its future of serving our customers’ growing need for outsourcing of software and service for research IT.”
CambridgeSoft also announced the addition of Dr. Michael R. Stapleton as Vice President, Corporate Development, with responsibilities for supporting the company’s merger and acquisitions activities. Dr Stapleton has more than 20 years experience in the field of scientific software and informatics. He served as Vice President of Global Marketing and eBusiness at Invitrogen. Previously, Dr. Stapleton spent 11 years at Accelrys. As Chief Operating Officer, he was responsible for the formation of Accelrys from Molecular Simulations and the integration of the acquisitions of Synopsys, Oxford Molecular Group and Genetics Computer Group.
“Dr. Stapleton has displayed exceptional leadership in our industry,” Mr. Tomasic stated, “His experience gives him an excellent perspective in the life science software industry and its customers. We look forward to his contributions to the company’s continued growth and financial success while broadening our offerings to continue serving our customers with excellence.”
CambridgeSoft develops and markets life science enterprise solutions for pharmaceutical, biotechnology, chemical companies and scientific research organizations. Software products include enterprise, workgroup and desktop versions of Chem & Bio Office, including Chem & Bio Draw and E-Notebook, with knowledge management, chemical and biological informatics, and scientific database solutions. Web sites include ChemBioFinder.Com and ChemBioNews.Com for indexed database content and news, and SciStore.Com for e-commerce.
CambridgeSoft has offices in the United States, Europe and Asia Pacific. For information about CambridgeSoft products, services, and sales worldwide, please visit www.cambridgesoft.com, or call 1 617 588-9300 in America, in Europe call 00 800 875 20000, or in Japan call 0120-146-700.
About Goldman Sachs:
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.