Applied Biosystems acquires Agencourt for $120 million

By Elaine Rigoli

Tampa, Fla., May 30 - Applied Biosystems Group said Tuesday it will acquire Agencourt Personal Genomics for about $120 million in cash.

The transaction is expected to close in the third calendar quarter of 2006.

Applied Biosystems said Agencourt's massively parallel fluorescence sequencing by stepwise ligation technology is a novel, extremely high throughput approach to DNA/RNA analysis.

This technology is expected to be complementary to current Applied Biosystems platforms and applicable to many genetic analysis applications, including de novo genome sequencing, medical sequencing, high throughput gene expression and high throughput genotyping.

Subject to timely completion of the acquisition, Applied Biosystems said it anticipates that it will place initial systems with early access customers during calendar 2007.

Beverly, Mass.-based Agencourt is a privately held developer of genetic-analysis technologies.

Applied Biosystems is an Applera Corp. business with headquarters in Foster City, Calif.

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