Benzinga | May 13, 2021 08:45AM EDT

PerkinElmer Expands Into Cell Biology With $260M Nexcelom Bioscience Acquisition

* PerkinElmer Inc (NYSE: PKI) has agreed to acquire privately-held Nexcelom Bioscience, a provider of instruments, workstations, assays, cell reagents & consumables with application in the development of cell and gene and immuno-oncology therapies, virology drugs, and vaccines.

* The deal value of $260 million will be paid using cash on hand. As of March 31, the company reported cash and equivalents of $988 million.

* The agreement to acquire Nexcelom comes five months after PerkinElmer added Horizon Discovery, a gene editing, and gene modulation tool provider.

* Nexcelom has around 130 employees, with expected 2021 revenues of nearly $40 Million.

* The transaction is expected to close during the second quarter of 2021.

* PerkinElmer's existing biologics, vaccine, and cell & gene research solutions feature in vivo and cell painting screening technologies; immunoassays; CRISPR, RNAi, DNA tools and custom cell lines; cell plate readers and advanced automation; microfluidics and analytical platforms.

* Price Action: PKI shares closed at $137.86 on Wednesday.