US-based PerkinElmer has agreed to acquire UK-based cell engineering company Horizon Discovery Group in a deal valued at around $383m.
The deal has a total enterprise value of around $368m.
Based in Cambridge, Horizon Discovery offers CRISPR and RNAi reagents, cell models, cell engineering and base editing solutions to study gene function, genetic disease drivers and biotherapeutics delivery.
Horizon provides cell engineering tools and services to customers in three major areas, including basic research, drug discovery and development and therapeutic applications.
With around 400 employees in several countries including the UK, the US and Japan, Horizon serves biopharmaceutical and diagnostics companies, contract research and manufacturing organisations and academic researchers across the world.
The acquisition of Horizon Discovery will allow the US-based firm to expand its portfolio of automated life sciences discovery and applied genomics solutions with the addition of gene editing and gene modulation tools.
Horizon Discovery will help PerkinElmer to better collaborate with academic and pharma/biopharma scientists to address current research challenges.
The acquired company will also enable PerkinElmer to offer key tools to study next-generation cell engineering and customised cell lines for relevant biological models.
Subject to customary closing conditions, the deal is expected to be completed in the first quarter of 2021.
PerkinElmer president and CEO Prahlad Singh said: “We’re excited to team up with Horizon to not only add CRISPR and RNAi capabilities into our existing portfolio, but also to leverage our combined life sciences screening and applied genomics solutions to help propel the next phase of cell and gene research for precision medicine.
“PerkinElmer leads with science and creates total solutions to bring today’s leading innovations together for our customers, while also working at the cutting edge of what’s next. Today’s announcement delivers on both of these fronts.”