Acquisition will strengthen Affymetrix’ validation and testing segments.
Affymetrix plans to acquire Panomics for approximately $73 million in cash. The transaction will bolster Affymetrix’ position in high-growth validation and routine-testing market segments. The combination is also expected to enable a more complete customer workflow, beginning with whole-genome Affymetrix microarray studies and then focusing on genes and proteins of interest with the Panomics products.
Panomics has a number of mid-plex products that can currently run on an installed base of more than 5,600 instruments worldwide. These products work on a broad range of sample types and offer a direct assay approach with high sensitivity and specificity, according to Affymetrix. The assays do not require nucleic acid extraction or amplification, which streamlines customer workflows for applications including gene expression, copy number, and cytogenetics, the company adds.
The transaction is expected to close by the end of this year.