PerkinElmer (NYSE:PKI) announced that it completed its acquisition of BioLegend for approximately $5.25 billion.
Waltham, Mass.-based PerkinElmer looks to use the acquisition — the largest in the company’s history — to expand its life science franchise into high-growth areas including cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing.
“BioLegend’s stellar leaders, teams and technologies will play a critical role in our combined companies’ ability to provide new, innovative solutions to scientists — helping drive novel therapeutic discovery and development,” PerkinElmer president & CEO Prahlad Singh said in a news release. “We also look forward to BioLegend significantly enhancing our leading reagents portfolio as we partner together to innovate and advance science for our customers.”
PerkinElmer expects BioLegend to contribute an incremental $380 million in revenue and adjusted EPS of 30¢ per share in fiscal 2022.
“We are very excited to roll up our sleeves and work together with our new PerkinElmer colleagues to mutually leverage our portfolios, people and shared passion for innovation and science to accelerate the discovery and development of novel therapeutics,” BioLegend president & CEO Gene Lay said. “PerkinElmer’s broad life science platform and strong global infrastructure will help BioLegend continue to extend our mission of enabling our customers to do legendary discovery.”