Luminex Corporation has signed a definitive agreement to acquire privately-held EraGen Biosciences.
Under the terms of the agreement Luminex will purchase all outstanding shares of EraGen for approximately $34 million in cash, subject to certain adjustments. The transaction is anticipated to close within the next several weeks.
The acquisition of Madison, Wis.-based EraGen Biosciences, a developer of molecular reagent products, provides Luminex with access to a portfolio of molecular diagnostic assays based on a technology platform called MultiCode. This assay chemistry is a flexible platform for both real-time polymerase chain reaction (PCR) and multiplex PCR-based applications. In addition to an expanded offering of new assays, the acquisition of EraGen will broaden Luminex' product offering to its existing customer base, open new market opportunities and accelerate future product development, according to the Austin, Texas-based manufacturer of proprietary biological testing technologies.