Fluidigm purchases DVS Sciences for $207.5 million
On Wednesday, January 29, Fluidigm Corporation and DVS Sciences, Inc. published a joint press release announcing the former's plans to acquire the latter for $207.5 million.
According to the source, Fluidigm is a San Francisco-based biotech tools company that provides disruptive single-cell analysis capabilities for life science researchers across the globe. It was founded in 1999 by Stephen Quake and Gajus Worthington, who are both still with the company.
DVS Sciences, on the other hand, is an analytical equipment and reagents development company located in Sunnyvale, California. It produces a number of products for the life sciences industry, including the CyTOF®2 Mass Cytometer, a tool that enables researchers to analyze single-cell proteins.
The source notes that the agreement between the two companies will "create a single-cell technology powerhouse" that can better serve markets around the world.
"The merger of DVS with Fluidigm will provide exciting new product synergies around single-cell analysis for our customers as well as increased support networks and a wider reach into new markets," said DVS president and CEO, Joe Victor, in a press statement. "DVS is excited to be able to have the opportunity to jointly develop with Fluidigm new technologies, products and applications for our target life sciences markets."
Worthington, Fluidigm's president and CEO, revealed that Fluidigm was waiting for a company that would be a perfect fit, and determined that DVS Sciences was just what they had been looking for.
Business acquisitions can be advantageous in a number of different industries, as they ensure that everyone involved can meet mutually satisfying goals. These processes are made easier with the help of merger and acquisition firms.