Affymetrix, a genetic data analysis equipment maker, announced today that it will purchase Fremont, CA-based Panomics for $73 million. Panomics has a suite of assay products for a wide variety of low to mid-plex genetic, protein and cellular analysis applications.
Affymetrix says the buyout will boost its high-growth validation and routine-testing market segments. "As one company, we will be able to serve a much larger customer base around the world with a broader product portfolio that offers a more complete analysis workflow, enabling customers to perform experiments not possible on any other platform," stated Kevin King, president of Affymetrix. The transaction is expected to close by the end of 2008, subject to customary closing conditions and regulatory approvals.
- see Affymetrix's release