NEW YORK — Swedish molecular diagnostics firm Devyser Diagnostics said on Monday that it has exercised an option to fully acquire SmartSeq, an Italian developer of data analysis software, for €835,000 ($942,500) in cash and stock.
SmartSeq offers Amplicon Suite, a software-as-a-service that enables genetic test data uploading, analysis, and interpretation, as well as results reporting. It is primarily sold to Devyser, which bundles it with a reagent kit, but also marketed to other customers.
Under the terms of the deal, Devyser acquired the remaining 70.1 percent of SmartSeq in exchange for €242,150 in cash and €592,850 in newly issued Devyser shares. In late 2018, Devyser paid €12,558 for 29.9 percent of SmartSeq and an option to buy the rest of the company.
"SmartSeq has a high degree of expertise in software development for data analysis and its software is a key component in our offering in genetic testing," Devyser CEO Fredrik Alpsten said in a statement. "The acquisition strengthens our gross margin as we can now supply the software ourselves instead of purchasing it from SmartSeq."