Strategic Diagnostics Inc. (SDIX) announced an agreement to sell the assets of its Life Science business to OriGene Technologies Inc. for $16 million. Post the closing of the transaction, the company will have no remaining operations and the Board will review alternatives for the company's cash and public company status. OriGene has agreed to offer employment to a substantial majority of SDIX's employees.
The acquisition is expected to be completed during the second quarter of 2013.
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