Affymetrix (Santa Clara, CA, USA) will acquire eBioscience (San Diego, CA, USA) for USD 330 million in cash subject to customary adjustments. The acquisition is expected to pass the regulatory review period be completed by the end the year 2011. Until then, eBioscience will continue to operate independently.
The acquisition of eBioscience is expected to provide Affymetrix with new commercial opportunities in the key postgenomic applications of immunology, oncology, cell biology, stem cell biology, and diagnostics; diversify the company's revenues to complement its genomics franchise; augment the company's growing business in molecular diagnostics; and expand the company's product portfolio to include multicolor flow cytometry reagents and a broad spectrum of reagents for the analysis of cytokines, growth factors, and other soluble proteins. It should also enhance the operational and new product opportunities for Panomics RNA and protein analysis products and help the commercial capabilities of both companies to generate new opportunities for growth.
Dr. Frank Witney, president and CEO of Affymetrix commented, "With eBioscience, Affymetrix will significantly expand its addressable markets by adding an industry-leading portfolio of cell-based and immunoassays. These new products are a critical part of our customers' workflow in our key target markets of translational medicine, oncology, and immunology.
"We believe that these markets represent a nearly three-billion dollar annual opportunity, which will put Affymetrix on a solid path to sustained growth and profitability. We look forward to welcoming the eBioscience team to the Affymetrix family."