NEW YORK (GenomeWeb News) — Qiagen said today that it has closed its $34 million acquisition of eGene, and said it expects the company to contribute strong revenue growth by next year.
Specifically, the company said it expects the acquisition to contribute $2 million in the second half of 2007 and between $7 million and $9 million for full year 2008.
The acquisition, originally announced April 12, gives Qiagen’s North American Holdings subsidiary eGene’s multi-channel sample-separation and -analysis technology, its HDA GT12 genetic analyzer, as well as a software-analysis package and consumable cartridges used by molecular diagnostics and research markets.
The total purchase price for Irvine, Calif.-based eGene includes $15.5 million in cash and one million common Qiagen shares priced at $17 apiece. Qiagen also absorbed around $1.5 million in liabilities.