will pay $22.6 million to acquire Guava Technologies
, a provider of benchtop cell-analysis systems. The acquisition follows the distribution and co-development partnership the two companies entered in March 2008 to bring flow cytometry
to cellular biologists.
“Our vision is to make flow cytometry less expensive, easier to use, and more accessible for all research scientists,” says Jonathan DiVincenzo, president of Millipore’s bioscience division. “Additionally, by developing kits that are optimized for key research areas such as stem cell research, cancer biology, cell health, and biomarker discovery, scientists will no longer need to source reagents and develop their own assays. We exceeded our targets for placing Guava instruments in 2008 and we are excited about further increasing the adoption of our flow cytometry platform by accelerating our investments in R&D, sales, and marketing.”
Guava’s technology may be used to develop new products for the process monitoring tools segment of Millipore’s bioprocess division. The company expects to maintain Guava’s manufacturing and commercial operations in Hayward, CA.
Guava generated approximately $22 million in sales during 2008. The transaction is expected to be slightly accretive to Millipore’s non-GAAP earnings per share this year and is expected to close in the next two weeks.