RTTNews | May 12, 2021 06:34PM EDT

18:33 Wednesday, May 12, 2021 (RTTNews.com) - PerkinElmer, Inc. (PKI) Wednesday said it has acquired Nexcelom Bioscience for $260 million in cash. The transaction is expected to close during the second quarter of 2021.

Nexcelom is a provider of automated cell counting instruments, image cytometry workstations, assays and a variety of cell reagents, consumables, and fit-for-purpose cell counting method selection and development instructions that follow ISO Cell Counting Standards and aid in the development of cell and gene and immuno-oncology therapies, virology drugs and vaccines.

Headquartered in Lawrence, Massachusetts, Nexcelom is founder-led, privately held and has approximately 130 employees around the world based in the U.S., the UK and China. Nexcelom's expected 2021 revenues are approximately $40 million.

Commenting on the transaction, Prahlad Singh, president and chief executive officer of PerkinElmer said, "We are looking forward to bringing Nexcelom's expertise and technologies in drug development together with our passion and solutions for drug discovery. This combination will expand our efforts to help academic, government and biopharmaceutical organizations streamline their complete workflows and support efforts to accelerate time to target and time to market for novel therapies."

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