Cash transaction valued at approximately €23m
PerkinElmer plans to acquire Evotec Technologies of Hamburg, Germany in a cash transaction valued at approximately €23m.
Evotec Technologies is a majority owned subsidiary of Evotec AG and provides systems for confocal imaging, cell handling, ultra-High Throughput Screening (uHTS) as well as image capture and cellular analysis software. These instruments software programs help pharmaceutical, biotechnology and academic researchers automate cell screening and analysis for drug discovery.
The transaction is subject to regulatory approvals and other customary conditions and closing is expected to occur late December 2006.
The cash proceeds will provide Evotec additional flexibility to progress and expand its Central Nervous pipeline and enable the company to focus on its core business - drug discovery and development.
Together with the sale of single molecule detection technologies and patents to Olympus earlier in the year, the combined divestments value Evotec Technologies at approximately €30m.