PerkinElmer (NYSE:PKI) has reached an agreement with Horizon Discovery Group (OTC:HZNQF) to acquire the latter for ~$383M (£296M) in an all-cash offer.
The transaction has a total enterprise value of ~$368M (£284M) and is expected to close in Q1 2021.
With this investment, PerkinElmer will expand its portfolio to include gene editing and gene modulation tools, and will enable the company to better partner with academic and pharma/biopharma scientists.
The acquisition will also provide an opportunity to provide important tools for exploring next-generation cell engineering and customized cell lines for relevant biological models - important for the future of precision medicine.
Headquartered in Cambridge, UK, Horizon is a provider of CRISPR and RNAi reagents, cell models, cell engineering and base editing offerings.
