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Business
Symyx Spins Off Equipment Business
by Marc S. Reisch
March 22, 2010
| A version of this story appeared in
Volume 88, Issue 12
Symyx Technologies has spun off its high-throughput experimentation equipment business to a group of managers and employees. Symyx provided the new firm, known as FreeSlate, with $9 million in cash. In exchange Symyx received a $10 million note and 20% of the new firm's stock. John Senaldi, former head of the equipment business, now leads FreeSlate and its 85 employees, who will remain in Sunnyvale, Calif. Symyx CEO Isy Goldwasser says the spin-off allows his firm to grow as a "pure play" scientific software company focused on electronic lab notebooks.
The power is now in your (nitrile gloved) hands
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