Deal Snapshot
Novacyt Acquires Diagnostic Instrument Developer IT-IS International
Friday 16 October 2020

France-based clinical diagnostics specialist Novacyt (EURONEXT GROWTH: ALNOV) (AIM: NCYT) has acquired the entire share capital of UK-based diagnostic instrument development and manufacturing company IT-IS International Ltd for an initial cash consideration of GBP 10.1m (USD 12.93m), the company said.

IT-IS is the exclusive manufacturer of Novacyt's q16 and q32 rapid polymerase chain reaction instruments. Novacyt said the acquisition is immediately earnings accretive - IT-IS delivered revenues of GBP 3.9m and a net profit of GBP 0.8m for FY19, with revenues expected to increase to GBP 5m for FY20

Date Published: 16/10/2020