Simulations Plus (SLP)

[dickmilde]

Another acquisition for SLP...

Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that the Stock Purchase Agreement (the “Agreement”) with DILIsym Services, Inc. (“DILIsym”) of Research Triangle Park, North Carolina, announced on May 1, 2017, has been closed as of today, and DILIsym is now a division of Simulations Plus. DILIsym is the global leader in the simulation of drug-induced liver injury (“DILI”).

Pursuant to the Agreement, upon closing, DILIsym has become a wholly owned subsidiary of Simulations Plus and will continue to operate under the DILIsym name. As a result of this accretive acquisition, the total number of Simulations Plus employees is increasing from 70 to 81. DILIsym realized revenues of just over $3 million in 2016 with $720,000 in net earnings. Management expects to grow the business going forward.