PerkinElmer acquires Evotec Tech in cash buyout

The UK's PerkinElmer will acquire Evotec AG's Evotec Technologies subsidiary for €23 million in cash. The subsidiary provides systems for confocal imaging, cell handling, ultra-high throughput screening as well as image capture and cellular analysis software. PerkinElmer says it can take the technology op to a new level. For Evotec AG CEO Joern Aldag, the deal marks his company's central focus on developing new therapies.

"This transaction is another milestone in our strategy to focus Evotec on its drug discovery and development business," said Aldag. "Together with the sale of certain technology assets of Evotec Technologies to Olympus earlier in the year, the combined divestments value Evotec Technologies at approximately EUR 30 million. The cash proceeds will provide us with additional flexibility to progress and expand our central nervous system pipeline."

- read the release on the deal