NEW YORK (GenomeWeb News) – Affymetrix will pay $73 million in cash to acquire Panomics, a maker of assays for low- to mid-plex genetic, protein, and cellular analysis applications, Affy said today.
Affymetrix said that the acquisition will strengthen its position in the high-growth validation and routine testing markets, and it will enable it to offer a more complete customer workflow that will combine Affy’s whole-genome microarray products with Panomics’ products focused on genes and proteins of interest.
In addition, Affy believes Panomics’ products will “complement the recently acquired liquid array technology, enabling Affymetrix to address low- to mid-plex genetic analysis requirements more effectively in the future,” it said in a statement.
This past summer Affy purchased True Materials, which is developing a digitally encoded microparticle technology that will enable the array manufacturer to enter low to mid-multiplex markets and compete with bead-based platforms.
“As one company, we will be able to serve a much larger customer base around the world with a broader product portfolio that offers a more complete analysis workflow, enabling customers to perform experiments not possible on any other platform,” Affymetrix President Kevin King said in a statement.
The firms expect to close the deal by the end of 2008, subject to customary closing conditions and regulatory approvals. Affy said it would offer more details during its fourth-quarter and year-end conference call.