- PerkinElmer Inc PKI has agreed to acquire the U.K.-listed Immunodiagnostic Systems Holdings Plc's (IDS) in an all-cash transaction of approximately $155 million (£110 Million).
- The transaction has a total enterprise value of approximately $124 million (£88 Million) and is expected to close early in the third quarter of 2021.
- Through this acquisition, PerkinElmer could grow its immunodiagnostics segment and the overall Diagnostics business.
- IDS' portfolio will integrate within Euroimmun, a PerkinElmer company, since 2017. It provides autoimmune testing and is an emerging force in infectious disease, allergy, and molecular genetic testing.
- Headquartered in Boldon, the United Kingdom, IDS is a provider of in-vitro diagnostic solutions and has 300 global employees.
- In terms of financial impact, PerkinElmer expects the acquisition to be modestly accretive to non-GAAP earnings in year one following the close.
- Last week, PerkinElmer announced to acquire Nexcelom Bioscience for $260 million, to expand its capabilities in cell biology.
- Price Action: PKI shares closed at $143.56 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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