Cellink AB to take-over Discover Echo Inc
Swedish Cellink AB has announced a bid of $110m to take over all shares of Discover Echo Inc., 11% of which to be paid in newly issued shares.
San Diego-based Discover Echo Inc. is a specialist for unique hybrid automated microscopes that easily transform between upright (for viewing glass slides) and inverted configurations (for viewing live samples in petri dishes and well plates), merging the capabilities of multiple instruments into one. Cellink expects the company, which has a subsidiary in the UK, to grow 65% in 2021 and generate about $20m in revenues.
Discover Echo has a large growth potential in the bioprocessing industry where the CELLINK Group is a well-known supplier and has the ability to accelerate Discover Echos penetration in this sector. The US company has improved the usability of their microscopes by replacing traditional eyepieces with ultra high-resolution touchscreen displays and offering an intuitive software app that advances the workflow of acquiring, sharing, and analysing images.
"With the strategic acquisition of Discover Echo, we further strengthen our position within our Biosciences segment and we further complement our existing bioconvergence products and capture strong cross-selling synergies, said Erik Gatenholm, CEO of Cellink AB.
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