PerkinElmer To Acquire UK-Based In-Vitro Diagnostics Company For $155M

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.