FGPE et al. sell Qumas to Accelrys for $50m

The buyer paid $50m in cash to purchase the asset, with the aim to extend its informatics portfolio.

Previous funding
Qumas's first institutional funding round came in 1999, when the company raised $3m from ACT Venture Capital and a group of US-based technology-focused private investors, according to unquote" data. The company raised $6m from Accenture Technology Ventures and the Allied Irish Bank Group in 2001. 

In 2005, FGPE and General Catalyst Partners injected $10m into the company to fund the firm's expansion in the US.

Company
Founded in 1995 and based in Cork, Qumas provides cloud-based and on-premises enterprise compliance software to support regulatory and quality operations in life sciences and other highly regulated industries.

Qumas reported revenues of $19.3m in 2012, up from $15.2m the previous year.

People
Simon Clark is managing partner at FGPE and worked on the 2005 investment.

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• Topics
• UK / Ireland
• Technology
• Exits
• United Kingdom
• Fidelity Growth Partners Europe (FGPE)
• Trade sale