PacBio Enters Into Agreement To Acquire Apton Biosystems In All-Stock Transaction; Overall Transaction Valued At Up To $110M
Portfolio Pulse from Benzinga Newsdesk
PacBio has entered into an agreement to acquire Apton Biosystems in an all-stock transaction valued at up to $110 million. The deal includes an upfront consideration of $85 million in PacBio common stock and an additional $25 million payable upon achieving $50 million in revenue from a high throughput sequencer using Apton's technology.
August 04, 2023 | 12:23 pm
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PacBio's acquisition of Apton Biosystems could potentially increase its market share and revenue in the long term. However, the short-term impact on the stock price is uncertain due to the significant upfront cost of the acquisition.
The acquisition could potentially increase PacBio's market share and revenue in the long term, especially if the high throughput sequencer using Apton's technology achieves the projected $50 million in revenue. However, the significant upfront cost of the acquisition could have a negative impact on the company's short-term financial performance, which may affect the stock price.
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