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Life Technologies Pays $50M Milestone for Ion Torrent; Remaining $300M Due in Q1 2012

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This story was originally published March 7.

Life Technologies paid Ion Torrent shareholders $50 million in cash and stock last November for a milestone related to the acquisition of the company, according to documents filed with the Securities and Exchange Commission last month.

In addition, Life Tech said it will pay another $300 million in January 2012 if Ion Torrent reaches a second milestone.

The milestones are time- and technology-based but the company did not say specifically what triggered the first payment.

Life Tech acquired Ion Torrent in early October for an upfront payment of $375 million and up to $350 million in milestones (IS 10/5/2010).

According to the SEC filing, the company has so far paid $422.5 million, including the upfront payment and the $50 million milestone. These payments consisted of $263.2 million in cash and $159.3 million in shares of common stock issued through the end of 2010.

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