Bruker Corporation (NASDAQ: BRKR) price move into positive territory Monday, on word it has entered into a definitive acquisition agreement with NanoString Technologies, Inc., headquartered in Seattle, Washington, a leading provider of solutions for spatial transcriptomics and gene expression analysis.
Under the asset purchase agreement, Bruker expects to acquire substantially all of the assets and rights associated with NanoString’s business, including the nCounter®, GeoMx®, CosMx™ and AtoMx™ product lines, for approximately $392.6 million in cash, and the assumption of certain liabilities. In 2023, NanoString generated revenues of approximately $168 million.
Last Friday, the transaction was approved under a court-supervised Chapter 11 sale process pursuant to Section 363 of the U.S. Bankruptcy Code, and it is expected to close in the second quarter of 2024, subject to customary closing conditions.
NanoString is a provider of life science tools for discovery and translational research with leading solutions for spatial transcriptomics and gene expression analysis. For over 15 years, and with over 7,000 peer-reviewed publications, scientists and medical researchers have relied on NanoString’s pioneering instruments to advance biological, translational and clinical disease research.
Bruker expects to fund the acquisition with cash on hand and established debt instruments. Following the closing, the NanoString business will become part of the Bruker Spatial Biology business.
BRKR shares advanced 24 cents to $78.00.
