Tecan to Acquire SPEware Corporation
News Sep 01, 2016
The Tecan Group has announced the acquisition of US-based SPEware Corporation to further expand Tecan's dedicated solutions offering into a new market segment. SPEware is a leading provider for mass spectrometry sample preparation solutions, with a focus on the North American market. SPEware will become a part of Tecan's Life Sciences Business, leveraging Tecan's global presence, customer base and strong position serving the market with automation platforms optimized for sample preparation for mass spectrometry analysis. With over 70% of revenues generated with smart consumables, the acquisition of SPEware will further expand Tecan's overall recurring revenues.
The base purchase consideration of USD 50.0 million will be fully paid in cash and represents a valuation of approximately three times fiscal year 2016 sales of SPEware, while SPEware's EBITDA margin is exceeding Tecan's level. An additional earn-out consideration of up to USD 10.0 million (CHF 9.8 million) will be payable subject to the achievement of certain performance-related targets over the next two years. The transaction is expected to be immediately accretive to earnings per share (EPS) before transaction-related amortization. The closing of the transaction is anticipated within the coming weeks. Hence, Tecan does not expect a significant impact of the acquisition on its 2016 financial results.
Tecan CEO Dr. David Martyr commented: "The entire SPEware team has done a great job of developing and commercializing their proprietary solid phase extraction technology. With SPEware's current focus on North America, we are excited about the opportunity to leverage Tecan's global sales and service infrastructure to build on that momentum and further accelerate growth. This transaction follows very much the rationale of our acquisition of IBL International in 2014, which supported our evolution into a solutions business for dedicated applications. With SPEware's consumable and dedicated instrument offering, we can now expand our solution offering into the sample preparation for mass spectrometry market, complementing the market for specialty immunoassays served by IBL International. We very much look forward to welcoming the SPEware team into Tecan."
Phil Dimson, CEO and founder of SPEware, said: "We couldn't be more excited to join with the Tecan Group as this combination adds significant synergistic value for our customers and employees. Tecan's global market presence as a leader in laboratory automation platforms, including in our core market, is the perfect complement to SPEware's smart consumables and devices for mass spectrometry sample preparation solutions."
Researchers Fine-Tune Computer-Assisted Drug Repositioning Process to Treat Rare DiseasesNews
Researchers at the LSU Computational Systems Biology group have developed a sophisticated and systematic way to identify existing drugs that can be repositioned to treat a rare disease or condition.READ MORE
So Hot it Hurts: Ion channel trio underlying painful heat sensation foundNews
Researchers show that acute noxious heat sensing in mice depends on a triad of transient receptor potential (TRP) ion channels: TRPM3, TRPV1, and TRPA1.READ MORE
New Chemical Synthesis Process: Synergy of Two Catalysts in One FlaskNews
Researchers report the one-step synthesis of a ketone from an aldehyde by the combination of thiazolium N-heterocyclic carbene and palladium/bisphosphine catalysts in one flask. The two catalysts function in a synergistic manner. This study is expected to lead to new synthesis processes of precursor compounds for medications.READ MORE