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Luminex to Acquire Flow Cytometry Portfolio of MilliporeSigma for USD 75m
Monday 22 October 2018

22 October 2018 - Texas, US-based Luminex Corp. (NASDAQ: LMNX) has agreed to acquire the flow cytometry portfolio of Massachusetts, US-based chemical and biochemical product‎s provider MilliporeSigma's flow cytometry portfolio for USD 75m, the company said.
The transaction consists of approximately USD 69.9m to be paid under a stock and asset purchase agreement and approximately USD 5.1m in committed inventory purchases. The deal is expected to close by the end of 2018, and to contribute USD 40m to USD 50m in revenue to the company in 2019.
The acquisition expands Luminex's existing offering of flow-based detection systems, which is centred around its innovative xMAP multiplexing technology, with more than 15,000 xMAP systems sold worldwide. xMAP Technology combines advanced fluidics, optics, and digital signal processing with proprietary microsphere technology to deliver industry-leading, multiplexed assay capabilities.
Luminex said this strategic agreement of its first acquisition in the research space allows the company to expand into the multi-billion dollar flow cytometry market.
Luminex offers a range of solutions applicable in markets including clinical diagnostics, pharmaceutical drug discovery, biomedical research, genomic and proteomic research, biodefense research, and food safety.
Cantor Fitzgerald and Co. acted as financial advisor to Luminex, and Smith, Gambrell and Russell, LLP acted as legal counsel to Luminex for this transaction.
Date Published: 22/10/2018
Target: MilliporeSigma/flow cytometry portfolio
Country: USA
Deal Size: 75m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: MilliporeSigma
Buyer: Luminex Corp
Buyer Advisor: Cantor Fitzgerald and Co , Smith, Gambrell and Russell