Applied Bio Buying Agencourt
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV