Millipore Buys Guava Technology
Millipore expects the acquisition to add one percentage point to sales growth in 2009. On Millipore’s conference call, Chairman and CEO Martin Madaus stated that the company will not focus on the diagnostic applications of Guava’s technology. Last year, Millipore began distributing Guava’s systems for research applications (see IBO 3/15/08) and developed cobranded reagents. The Wall Street Journal reported that Guava had raised more than $50 million from investors.
Billerica, MA 2/2/09—Millipore has agreed to acquire Guava Technologies, a provider of microcapillary flow cytometers, for $22.6 million. Guava recorded 2008 sales of $21.9 million. The acquisition is expected to be slightly accretive to Millipore’s non-GAAP EPS during 2009. “Our vision is to make flow cytometry less expensive, easier to use, and more accessible for all research scientists,” commented Jonathan DiVincenzo, president of Millipore’s Bioscience Division. “Additionally, by developing kits that are optimized for key research areas such as stem cell research, cancer biology, cell health, and biomarker discovery, scientists will no longer need to source reagents and develop their own assays.” Millipore also stated that the technology could be used to develop products for its Bioprocess Division’s Process Monitoring Tools segment. Millipore will maintain Guava’s operations in Hayward, California. The deal is expected to close by the end of the month.
