Acquisition of MilliporeSigma’s Flow Cytometry Portfolio Completed by Luminex Corporation
Posted on January 7, 2019
Luminex Corporation today announced that the company has completed its previously announced acquisition of MilliporeSigma’s flow cytometry portfolio for $75 million in combined stock, asset and inventory purchases. The acquisition is expected to contribute $40 million to $50 million in revenue to Luminex in 2019.
“We are pleased to announce the completion of this transaction and excited to welcome the talented MilliporeSigma flow cytometry team to the Luminex family,” said Homi Shamir, president and CEO of Luminex. “This acquisition enables us to enhance our existing offering of flow-based detection systems, while simultaneously expanding our direct interactions with researchers conducting cellular analysis.”
Luminex’s newly acquired flow cytometry portfolio includes Amnis®, the market-leading family of imaging flow cytometry products for cell-based analysis, as well as the Guava® portfolio of products, which are economical, high-performance systems based on microcapillary technologies.
“The Amnis and Guava products complement our wide range of existing flow-based offerings, further differentiating our portfolio and ensuring we are well-positioned to support customers today and into the future,” said Shamir. “With this acquisition, we now have expanded our installed based to include more than 5,000 flow cytometry systems worldwide, adding to our impressive footprint and creating the potential for additional meaningful growth.”
Luminex expects to record charges for non-recurring cash and non-cash acquisition-related costs in connection with the MilliporeSigma transaction. The full extent of these charges will not be determined under the rules of purchase accounting until valuation has been completed. In addition, transaction-related professional fees will be expensed as incurred, as required by GAAP per ASC 805 Business Combinations.
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