Published on 24 May 2021 on Zacks via Yahoo Finance
PerkinElmer, Inc. PKI recently inked a deal to acquire Nexcelom Bioscience for an amount of $260 million in cash. Notably, Nexcelom is a Lawrence, MA-based developer and marketer of image cytometry products used for cell analysis in life science research and drug discovery. The company is also involved in development and manufacturing of the same. Additionally, it is privately-held and founder-led with around 130 employees globally based in the United States, the U.K. and China. In 2021, Nexcelom’s projected revenues are around $40 million.Notably, the buyout is anticipated to get completed during the second quarter of 2021.With this transaction, PerkinElmer is likely to boost its Diagnostics segment. Also, the acquisition (once completed) is likely to pave the way for new niches in high-growth areas where substantial opportunity can be seen in the near future.
Deal Rationale
By bringing both these companies together, PerkinElmer will be able to expand its efforts to help academic, government and biopharmaceutical organizations in simplifying their complete workflows and lend support to efforts to advance time to target and time to market for novel therapies.Per management, PerkinElmer is optimistic about adding Nexcelom’s experience and technologies in drug development to its passion and solutions for drug discovery.