PerkinElmer Inc. has announced that it has signed a definitive agreement with Evotec AG to acquire its majority owned subsidiary, Evotec Technologies, in a cash transaction valued at approximately EUR 23 million.
Based in Hamburg, Germany, Evotec Technologies provides a high performance screening instrumentation and analysis software.
The transaction is subject to regulatory approvals and other customary closing conditions, and is targeted to be completed in the first quarter of 2007.
Through this acquisition, PerkinElmer will be going to provide its customers in the pharmaceutical, biotechnology and academic arenas with Evotec Technologies' high content screening (HCS) instruments and software.
These analysis tools are made to determine the composition of cells and cell structure, a critical step in moving potential drug targets quickly through the discovery process.
"Our customers today require unique, flexible tools and platforms that produce better quality and biologically relevant data for mapping cellular events to new discoveries," said Gregory L. Summe, chairman and chief executive officer, PerkinElmer, Inc.
"Evotec Technologies' strong product portfolio; combined with PerkinElmer's global distribution capabilities, service and support; will help our customers speed target validation and lead optimization along the drug discovery pipeline."
Evotec Technologies' product portfolio includes the Opera™ HCS platform, a tool made for high content analysis that combines the precision of confocal microscopy with the throughput required for primary and secondary screening.
The complete Evotec Technologies product collection includes high content cellular analysis and screening systems; cell manipulation and sorting systems; image capture and cellular analysis software; and integrated ultra high throughput screening platforms.