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PerkinElmer Expands Into Cell Biology With $260M Nexcelom Bioscience Acquisition

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PerkinElmer Expands Into Cell Biology With $260M Nexcelom Bioscience Acquisition
  • PerkinElmer Inc (NYSE: PKIhas agreed to acquire privately-held Nexcelom Bioscience, a provider of instruments, workstations, assays, cell reagents & consumables with application in the development of cell and gene and immuno-oncology therapies, virology drugs, and vaccines.
  • The deal value of $260 million will be paid using cash on hand. As of March 31, the company reported cash and equivalents of $988 million.
  • The agreement to acquire Nexcelom comes five months after PerkinElmer added Horizon Discovery, a gene editing, and gene modulation tool provider.
  • Nexcelom has around 130 employees, with expected 2021 revenues of nearly $40 Million.
  • The transaction is expected to close during the second quarter of 2021.
  • PerkinElmer's existing biologics, vaccine, and cell & gene research solutions feature in vivo and cell painting screening technologies; immunoassays; CRISPR, RNAi, DNA tools and custom cell lines; cell plate readers and advanced automation; microfluidics and analytical platforms.
  • Price Action: PKI shares closed at $137.86 on Wednesday.
 

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Posted-In: Briefs Cell BiologyM&A News Health Care General

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