Applera's (ABI) Applied Biosystems unit agreed to acquire Agencourt Personal Genomics for $120 million in cash.
Agencourt holder Beckman Coulter (BEC) agreed to sell its minority interest for $50 million in cash. The deals are expected to close in the third quarter.
APG's massively parallel fluorescence sequencing by stepwise ligation technology is a novel, extremely high throughput approach to DNA/RNA analysis, Applied Bio said. This technology is expected to be complementary to current Applied Biosystems platforms and applicable to many genetic analysis applications, including de novo genome sequencing, medical sequencing, high throughput gene expression, and high throughput genotyping. Subject to timely completion of the acquisition, Applied Biosystems currently anticipates that it will place initial systems with early-access customers during calendar 2007.
Applied Biosystems currently anticipates the acquisition will be dilutive in both fiscal 2007 and 2008, primarily due to R&D spending, commercialization activities and acquisition related amortization associated with APG. Dilution in fiscal 2007 is anticipated to be 6 cents a share, excluding the impact of APG acquisition related amortization. In fiscal 2009, the acquisition is anticipated to be accretive, excluding the impact of amortization associated with the APG acquisition. Further information regarding the financial impact of the acquisition will be provided after Applied Biosystems completes a valuation analysis to determine the allocation of the purchase price.Beckman Coulter acquired the stake in conjunction with its acquisition of Agencourt Bioscience in May 2005.