QIAGEN to Buy Exiqon for $100 Million
Exiqon’s 2015 revenue rose 22.4%,and EBITDA climbed 293.5% to DKK 12.2 million ($1.8 million = DKK 6.73 = $1) (see page 12). Exiqon’s research products enable sample preparation, gene expression analysis and functional analysis using qPCR and sequencing. Its LNA technology offers greater sensitivity and specificity compared to other technologies for applications including NGS target enrichment, according to QIAGEN.
Venlo, the Netherlands 3/29/16; Copenhagen, Denmark 3/29/16—QIAGEN has announced that it plans to submit a conditional voluntary takeover offer to Exiqon shareholders. QIAGEN will offer DKK 18 ($2.70 = DKK 6.67 = $1) per share, a 41.7% premium over Exiqon’s closing price on March 29, or DKK 683 million ($102 million). Publicly held Exiqon provides products for testing non-coding RNA, such as miRNA and IncRNA, as well as molecular diagnostics solutions, including Locked Nucleic Acid (LNA) technology. The Board of Exiqon stated that it plans to recommend the offer to shareholders. In 2015, Exiqon reported $20 million in revenues. The firm forecasts sales, excluding OEM revenue, to grow 20% this year to DKK 180–185 million ($26–$27 million), with EBITDA of DKK 15–20 million ($2.2–$2.9 million).
