The company has entered into an agreement with the shareholders of Discover Echo to acquire all outstanding shares to a purchase price of USD 110 million.
Approximately eleven percent of the purchase price will be paid in newly issued shares of series B in CELLINK and the remaining part will be paid cash.
Discover Echo is an American company focusing on development, manufacturing, and sales of patented hybrid microscopes that transform between Upright and Inverted configurations, merging the capabilities of multiple instruments into one, states Cellink in a press release. Discover Echo is expected to grow 65% in 2021 and generate approximately USD 20 million of revenue with a double-digit EBITDA margin, the company states. The company is headquartered in San Diego, California, and has one European subsidiary in the UK. Discover Echo has around 50 employees. The company’s primary market is North America, but it has also gained strong presence in Europe and Asia.
“With this strategic acquisition of Discover Echo, we further strengthen our position within our Biosciences segment. This acquisition further exemplifies our vision and mission to be the complete solutions provider for our customers in the field of tissue engineering, cell line development, multi-omics, and diagnostics,” says Erik Gatenholm, CEO, Cellink.
Discover Echo will remain under current entity and management post-transaction.
Photo of Erik Gatenholm: Cellink