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One for the tools: PerkinElmer acquires Evotec
BOSTON—Looking to fill in its line of equipment focused on cell-based assays, Perkin Elmer Inc. announced late last year the acquisition of Evotec AG's subsidiary Evotec Technologies, a provider of high performance screening instruments and analysis software. Value of the cash transaction was pegged at EUR 23 million, with closing anticipated in the first quarter this year.
"This acquisition if proof the we are serious about Perkin Elmer's stated strategy of extending our instrumentation and reagents business in cell-based assays and that we want to continue to extract more and better information for our customers in the research they do," says Mary Duseau, Perkin Elmer's business unit leader for detection and analysis systems.
While Evotec has provided a number of different tools to the market, at the core of the deal for Perkin Elmer was the Opera confocal micro plate imaging reader and its accompanying image analysis software called Acapella.
"What really excited us about this deal is Opera occupied a space in the market where they have best-in-class, high-speed, high-resolution and the robust analysis package with the Acapella software," Duseau adds. "It has a confocal imaging system that utilizes the Yokagawa spinning disk technology, has multiple excitation and other options. The real difference is that they occupy the high-throughput space in the high-content world."
Coinciding with the closing of the deal, Hamburg, Germany-based Evotec Technologies' office will convert to a new Perkin Elmer Center of Excellence for cellular imaging and analysis. While the company has actively been pursuing increased penetration in the cellular analysis market, Duseau notes that the Evotec acquisition and the strength of its R&D program provided the critical mass necessary to set up such a research center.
"The market leading products for Evotec were one attraction, but another was the people in the Hamburg facility, so our intention is to continue to operate that facility."
Virtually all of the 75 employees at Evotec are expected to stay on with the Perkin Elmer and Henning Menke will become the site's operational leader.
For Evotec AG, the sale of its subsidiary to Perkin Elmer is just the lastest in a series of moves to re-task the company to one whose efforts are focused squarely on drug discovery and development. "This transaction is another milestone in our strategy to focus Evotec on its drug discovery and development business. Together with the sale of certain technology assets of Evotec Technologies to Olympus earlier in the year, the combined divestments value Evotec Technologies at approximately EUR 30 million. The cash proceeds will provide us with additional flexibility to progress and expand our Central Nervous System pipeline," says Joern Aldag, CEO of Evotec AG "Evotec Technologies has grown into a position of strength. To bring the company to the next level of its development, a partnership with a global provider of instrumentation and consumables became paramount. We believe that PerkinElmer is best positioned to leverage Evotec Technologies' full potential."