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Bruker Corporation (NASDAQ:BRKR) has agreed to acquire PhenomeX Inc (NASDAQ:CELL) for $1.00 per share in an all-cash transaction.
The proposed acquisition values PhenomeX at a total equity value of approximately $108 million.
PhenomeX is a functional cell biology company that provides single-cell biology research tools to deliver deep insights into cellular function and new perspectives on phenomes and genotype-to-phenotype linkages.
PhenomeX was formed in early 2023 through the combination of Berkeley Lights and IsoPlexis, and PhenomeX currently has an installed base of more than 400 instruments.
PhenomeX provides instruments, software, and molecular biology reagents for single-cell biology workflows.
The PhenomeX products include the key Beacon Optofluidic platform and the IsoLight and IsoSpark proteomics barcoding platform.
Recently, PhenomeX released Q2 earnings reporting Q2 total revenue of $14.1 million, with $7.3 million in recurring revenue.
Placed five platforms, including selling the first Beacon QuestTM, bringing the total PhenomeX installed base to 435 placements.
The transaction is expected to close in the fourth quarter of 2023. After the tender offer closes, PhenomeX will merge into a wholly-owned subsidiary of Bruker.
Price Action: CELL shares are up 134.82% at $0.94, and BRKR shares are down 0.49% at $65.38 on the last check Thursday.
