NEW YORK (GenomeWeb News) – Millipore has signed an agreement to acquire Guava Technologies for $22.6 million, the Billerica, Mass.-based firm said today.
The acquisition follows a partnership between the firms launched almost a year ago. In March 2008, they agreed to integrate their flow cytometry instrumentation, reagents, and support capabilities in an effort to target cell biologists.
"With the Guava acquisition, we will bring the power of our flow cytometry platform to all cell biologists by combining Guava's instruments with our broad range of fully validated reagent kits," said Millipore Chairman and CEO Martin Madaus in a statement.
Millipore said that the purchase price is subject to closing adjustments. It expects to close the deal within the next two weeks and said that it intends maintain Guava's manufacturing and commercial operations in Hayward, Calif.
Guava brought in revenues of around $22 million for 2008. Millipore expects the transaction to be slightly accretive to its earnings per share in 2009.