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Deal for antibody developer expected to be largest ever for scientific instrument maker
PerkinElmer, Inc., a manufacturer of analytical instruments, diagnostic and genetic testing tools, and software, among other products, has entered into an agreement to acquire BioLegend, a global provider of life science antibodies and reagents, for about $5.25 billion in a combination of cash and stock.
BioLegend offers its academic and biopharma customers antibodies and reagents in high-growth areas such as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing. According to company officials, this deal marks the largest in PerkinElmer’s history—it is expected to close by the end of 2021.
Privately-held BioLegend has more than 700 employees that are mainly stationed in the US. Once the acquisition is finalized, the company will grow PerkinElmer’s current life science offering into additional segments, and its campus in San Diego, CA, will become PerkinElmer’s global Center of Excellence (CoE) for research reagent content development for the combined company.