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Molecular Devices acquires LCM business from Arcturus for $10 million
By Lisa Kerner
Erie, Pa., April 4 - Molecular Devices Corp. announced it has acquired the Laser Capture Microdissection (LCM)-related business of Arcturus Bioscience for $10 million in cash.
In addition, Molecular Devices hired 42 former Arcturus employees that were associated with the LCM business and will move all of the LCM operations and employees to Molecular Devices' headquarters in Sunnyvale, Calif., according to a company news release.
Arcturus' LCM platform allows researchers to visualize and selectively excise individual cells or collections of cells from heterogeneous tissue.
The acquisition expands Molecular Devices' life sciences product portfolio to include complete systems and reagents for LCM.
"This strategic acquisition allows us to continue to expand our life sciences portfolio by adding additional enabling tools for cellular analysis," Molecular Devices president and chief executive officer Joseph Keegan said in the release.
"We believe that offering LCM systems with our existing genomics and cellular imaging products is a natural fit for our life sciences research customers as LCM is typically an upstream step for genomic or imaging analysis. We also believe that we can improve the distribution of the LCM platform by leveraging our worldwide distribution infrastructure."
The company said it anticipates the acquisition will increase revenues by $8 million to $10 million and increase fully diluted earnings per share by $0.03 to $0.05 this year.
Molecular Devices is a supplier of high-performance bioanalytical measurement systems for drug discovery and other life sciences research.
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