Caliper Life Sciences has entered into a definitive agreement to acquire privately held Cambridge Research & Instrumentation (CRi) for approximately $20 million.
CRi's preclinical and tissue-based multiplexed analysis systems will expand Caliper's life sciences tools portfolio, particularly as it bridges into clinical research, pathology and clinical market applications, said Caliper.
Under the agreement, in exchange for all of CRi's outstanding equity securities, Caliper will issue common stock valued at approximately $10.5 million, pay cash of approximately $7.5 million, and assume CRi indebtedness of approximately $2 million.
CRi's headquarters and manufacturing operations will be consolidated with Caliper's existing operations in Hopkinton, Mass. The manufacturing relocation is expected to occur in mid-2011, at which time the CRi facility in Woburn, Mass., will be closed.