With the largest acquisition in the company’s history, PerkinElmer (NYSE:PKI) paid $5.25 billion to expand its life science franchise into high-growth areas including cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing.
San Diego-based BioLegend has more than 700 employees based primarily in the U.S. and estimated 2022 revenues of $380 million. Once a part of PerkinElmer, BioLegend will expand the company’s life science franchise into new segments, with its San Diego campus set to become PerkinElmer’s global center of excellence for research reagent content development for the combined company. PerkinElmer expects BioLegend to contribute an incremental $380 million in revenue and adjusted EPS of 30¢ per share in fiscal 2022.
“BioLegend’s stellar leaders, teams and technologies will play a critical role in our combined companies’ ability to provide new, innovative solutions to scientists — helping drive novel therapeutic discovery and development,” PerkinElmer President and CEO Prahlad Singh said in a news release. “We also look forward to BioLegend significantly enhancing our leading reagents portfolio as we partner together to innovate and advance science for our customers.”