The acquisition of BioLegend, the largest transaction in PerkinElmer’s history, will expand its existing life science franchise into new segments
PerkinElmer headquarters in Waltham, Massachusetts. (Credit: Coolcaesar at English Wikipedia.)
PerkinElmer has agreed to acquire BioLegend, a provider of antibodies and reagents, for a total consideration of $5.25bn, comprising cash and stock.
BioLegend is a US-based privately-held company, with estimated revenues of $380m for 2022, and has more than 700 employees.
It serves customers in cytometry, proteomics, genomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing areas.
BioLegend founder, president and CEO Gene Lay said: “We are very excited to join the PerkinElmer family.
“The combination will afford us the opportunity to continue to build on our two-decade foundation of innovative science and scale in new and highly attractive PerkinElmer areas such as clinical diagnostics and food safety testing.
“The BioLegend team is eager to enter this new chapter with PerkinElmer, furthering our mission of enabling legendary discovery from research to cure.”
The transaction is expected to be completed by the end of this calendar year, subject to regulatory approvals and other customary closing conditions.
Upon closing of the transaction, BioLegend joins PerkinElmer, expanding its existing life science franchise into new segments.
Also, BioLegend’s life sciences campus in San Diego, California will become the combined company’s global Centre of Excellence (CoE) for research reagent content development.
PerkinElmer said that the transaction is the largest in its history.
PerkinElmer president and CEO Prahlad Singh said: “We are thrilled to have the opportunity to bring our technologies and innovative cultures together to create seamless solutions to push science and discovery forward.
“We believe joining our teams presents an incredible opportunity to accelerate discoveries that help life science researchers leverage ever-developing technologies and novel approaches to better understand and fight disease.”