HZNQF - PerkinElmer to acquire Horizon Discovery for $383M

PerkinElmer (PKI) have reached an agreement with Horizon Discovery Group (HZNQF) to acquire latter for ~$383M (£296M) in all cash offer.The transaction has a total enterprise value of ~$368M (£284M) and, is expected to close in Q1 2021. With this investment, PerkinElmer will expand its portfolio to include gene editing and gene modulation tools and will enable the company to better partner with academic and pharma/biopharma scientists.The acquisition will also provide an opportunity to provide important tools for exploring next generation cell engineering and customized cell lines for relevant biological models – important for the future of precision medicine. Headquartered in Cambridge, UK, Horizon is a provider of CRISPR and RNAi reagents, cell models, cell engineering and base editing offerings.The company recently posted a strong, consensus beating Q3. Non-GAAP revenue for the quarter was $964.2M, +36% Y/Y.  Adjusted operating profit margin was 31.6%, compared to 21.6% in Q3 2019. See below

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PerkinElmer to acquire Horizon Discovery for $383M