NEW YORK, April 4 (GenomeWeb News) - Molecular Devices has acquired the laser capture microdissection business of Arcturus Biosicence for $10 million in cash, the company said today.
Under the terms of the agreement, Molecular Devices acquired Arcturus' LCM-related assets and hired 42 Arcturus employees. LCM operations will immediately move to Molecular Devices' headquarters in Sunnyvale, Calif. The company expects that the acquisition will increase its revenues by $8 million to $10 million this year.
"We believe that offering LCM systems with our existing genomics and cellular imaging products is a natural fit for our life sciences research customers as LCM is typically an upstream step for genomic or imaging analysis," said Molecular Devices CEO Joseph Keegan in a company statement. "We also believe that we can improve the distribution of the LCM platform by leveraging our worldwide distribution infrastructure."
Arcturus has more than 1,000 LCM systems installed worldwide. The company's LCM platform includes reagents for sample preparation, instrumentation and consumables for visualization and excision, and additional reagents for post-capture processing.