Fluidigm and DVS Sciences Announce Agreement for Fluidigm to Acquire DVS Sciences -- Creating a Single-Cell Technology Powerhouse
SOUTH SAN FRANCISCO, Calif. & SUNNYVALE, Calif.--(BUSINESS WIRE)--January 29, 2014--
Continuing its strategy of delivering disruptive single-cell analysis capabilities to life science researchers around the world, Fluidigm Corporation (NASDAQ:FLDM) has entered into a definitive agreement to acquire DVS Sciences, Inc. (DVS) to create a single-cell technology powerhouse. Combined with DVS, Fluidigm will be able to offer a comprehensive portfolio of advanced technologies serving the rapidly growing single-cell genomics and proteomics markets.
DVS is best known for its multi-parameter single-cell protein analysis systems. DVS's principal product is the CyTOF(R)2 Mass Cytometer, which analyzes antibody/metal complexes using atomic mass spectrometry. The technology enables high-parameter single-cell protein analysis for applications in biological research.
The acquisition consideration of approximately $207.5 million consists of a combination of Fluidigm common stock and cash. Fluidigm expects to fund the cash portion of the acquisition consideration primarily using proceeds from a proposed convertible notes offering. Subject to customary closing conditions, the transaction is currently expected to close in February 2014, at which point DVS would become a wholly-owned subsidiary of Fluidigm.