Sygnis, a German–Spanish biotechnology and personalized medicine company, agreed to purchase C.B.S. Scientific for $540,000 in cash and $360,000 in shares. C.B.S. is a San Diego-based life sciences tools manufacturing company, which according to a statement has revenues in excess of $1.5 million per annum.
“This is an excellent acquisition for Sygnis,” said Pilar de la Huerta, Co-CEO and CFO of Sygnis. “C.B.S. is a profitable company, with a very stable and highly complementary customer base.”
In June, Sygnis acquired Expedeon Holdings (based in Swavesey, U.K., with manufacturing facilities in San Diego), which expanded their proteomics reagents and tools manufacturing portfolio. Having multiple facilities in San Diego will aid in their corporate synergy, as will the complementary nature of Syngis and C.B.S.’s products. C.B.S. has developed a strong global brand in electrophoresis equipment and scientific instrumentation for genomics and proteomics research. The company also manufactures DNA mutation detection systems and DNA workstations.
“Following on from the successful integration of Expedeon into the Sygnis group, this new acquisition further strengthens Sygnis’ presence in the North American market, particularly in California,” said Heikki Lanckriet, Ph.D., Co-CEO and CSO of Sygnis. “Furthermore, the strong brand associated with the C.B.S. products will solidify our position as a global supplier in the life sciences and reagents market. With the addition of complementary product lines, Sygnis now aims to cover its core genomic and proteomic workflows more comprehensively.”
As part of the deal, the shares (275,311 of them) will be newly issued shares, 5/6 of which will be restricted from trading for 6 months (afterwards, 1/6 will be released in 1-month increments).