WaferGen to Be Acquired
WaferGen expects to generate 2016 revenues of $12.0–$13.0 million. According to TBUSA, 2016 revenues of more than $9.0 million would result in a 3.5 multiple acquisition price. As of March 31, WaferGen had cash and cash equivalents of $10.9 million. In December 2015, WaferGen received a delisting warning from the NASDAQ based on its minimum stock price. It has until June 20 to regain compliance.
Fremont, CA and Mountain View, CA 5/13/16—Takara Bio USA (TBUSA), a provider of life science reagents and kits, has announced an agreement to acquire single-cell analysis instrument firm WaferGen Bio-systems. TBUSA will pay up to $50.0 million based on a 1.0–3.5 multiple of WaferGen’s 2016 revenues. “The combination of TBUSA’s RNA-seq and T Cell Receptor profiling technologies with WaferGen’s ICELL8 platform for isolation and processing of single cells will significantly expand our offering in the fast growing single-cell and immuno-sequencing markets, and give customers greater access to these products through our global and commercial reach,” commented TBUSA President Carol Lou. The transaction is expected to close following the audit of WaferGen’s 2016 financial statements in February or March 2017. Conditions of the transaction include stockholder approval and WaferGen maintaining its NASDAQ listing. (For WaferGen’s 2015 and first quarter results, see page 12.)
