Affymetrix, Inc., (AFFX: Quote) and eBioscience, Inc. announced they have amended their existing definitive agreement. Under the terms of the amended agreement, Affymetrix will acquire eBioscience for $315 million in cash subject to usual adjustments. The transaction remains subject to customary closing conditions and is now expected to close late in the quarter ending June 30, 2012.
As previously announced, Affymetrix expects the acquisition of eBioscience toCreate significant new commercial opportunities in the key post-genomic applications of immunology, oncology, cell biology, stem cell biology, and diagnostics.
The deal will also expand the company's product portfolio to include multicolor flow cytometry reagents and a broad spectrum of reagents for the analysis of cytokines, growth factors and other soluble proteins.
As previously announced, Affymetrix, which is headquartered in Santa Clara, expects to maintain eBioscience's management team and operations in San Diego.
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by RTT Staff Writer
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