Benzinga | May 17, 2021 07:30AM EDT

PerkinElmer To Acquire UK-Based In-Vitro Diagnostics Company For $155M

* PerkinElmer Inc (NYSE: PKI) has agreed to acquire the U.K.-listed Immunodiagnostic Systems Holdings Plc's (IDS) in an all-cash transaction of approximately $155 million (?110 Million).

* The transaction has a total enterprise value of approximately $124 million (?88 Million) and is expected to close early in the third quarter of 2021.

* Through this acquisition, PerkinElmer could grow its immunodiagnostics segment and the overall Diagnostics business.

* IDS' portfolio will integrate within Euroimmun, a PerkinElmer company, since 2017. It provides autoimmune testing and is an emerging force in infectious disease, allergy, and molecular genetic testing.

* Headquartered in Boldon, the United Kingdom, IDS is a provider of in-vitro diagnostic solutions and has 300 global employees.

* In terms of financial impact, PerkinElmer expects the acquisition to be modestly accretive to non-GAAP earnings in year one following the close.

* Last week, PerkinElmer announced to acquire Nexcelom Bioscience for $260 million, to expand its capabilities in cell biology.

* Price Action: PKI shares closed at $143.56 on Friday.