US-based PerkinElmer will acquire UK-based cell engineering company Horizon Discovery Group for nearly $383 million in an all-cash deal.
The transaction, which is subject to the meeting of customary closing conditions, expected to be completed in Q1 2021.
Through the deal, PerkinElmer will expand its portfolio of automated life sciences discovery and applied genomics solutions with gene editing and gene modulation tools.
It will also enable PerkinElmer to better partner with academic and pharma/biopharma scientists to help address the current research challenges. Besides, it will give an opportunity to offer key tools for assessing next generation cell engineering and customized cell lines for relevant biological models.
Horizon Discovery Group provides CRISPR and RNAi reagents, cell models, cell engineering and base editing solutions which help scientists in better understanding gene function, genetic disease drivers, and also biotherapeutics delivery.
The cell engineering company has nearly 400 employees across various countries, including the UK, the US, and Japan, and its revenue in 2019 was $75.5 million.
The discovery and applied genomics solutions of PerkinElmer comprise a variety of immunoassay platforms, high content screening (HCS), and in vivo imaging in addition to microfluidics, robotic liquid handling technologies, and sequencing library preparation kits.
The combination of the complementary offerings of PerkinElmer and Horizon Discovery Group across the genotypic and phenotypic approaches for drug discovery and development will enable researchers in fast tracking decision making with better information, automated workflows, and more quality and control over data.
Prahlad Singh – President and CEO of PerkinElmer said: “One of the key fundamentals for molecular research and drug discovery is being able to knock down a gene or function and explore the results to discover actionable insights and new clinical trial candidates faster.
“We’re excited to team up with Horizon to not only add CRISPR and RNAi capabilities into our existing portfolio, but also to leverage our combined life sciences screening and applied genomics solutions to help propel the next phase of cell and gene research for precision medicine.
“PerkinElmer leads with science and creates total solutions to bring today’s leading innovations together for our customers, while also working at the cutting edge of what’s next.”