Caliper Technologies to Acquire Zymark
By Biotechdaily staff writers
Posted on 18 Jun 2003
In a move to add to the company's portfolio of laboratory automation products, Caliper Technologies Corp. (Mountain View, CA, USA) has agreed to acquire Zymark Corp. (Hopkinton, MA, USA) for about US$57 million and 3.15 million shares of Caliper stock.Posted on 18 Jun 2003
Zymark is a leading provider of laboratory automation, liquid handling, and robotics solutions for the life sciences, biotechnology, and pharmaceutical industries. The company's 2002 revenues were $65.4 million. Upon closing, Zymark will become a wholly owned subsidiary of Caliper, and will continue to sell products under its own name. The acquisition will integrate Zymark's liquid handling and automation solutions with Caliper's microfluidic technologies and LabChip expertise, resulting in a comprehensive portfolio of laboratory automation products for accelerating drug discovery and development.
"We have been aggressively looking for a value-creating acquisition as compelling as this one, that will drive the future success of our company and create significant benefit for our shareholders,” said James L. Knighton, president and CFO of Caliper. "This acquisition is expected to be immediately accretive to Caliper.”
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