CELLINK has entered into an agreement to acquire Discover Echo Inc.

CELLINK AB (publ) (“CELLINK”) has entered into an agreement with the shareholders of Discover Echo Inc. (“Discover Echo”) to acquire all outstanding shares, on a cash- and debt-free basis, and under the assumption that the working capital at closing equals the normalized working capital, to a purchase price of USD 110 million (the “Acquisition”). Approximately eleven percent of the purchase price will be paid in newly issued shares of series B in CELLINK (the “Consideration Shares”) and the remaining part will be paid cash. CELLINK’s Board of Directors will resolve to issue the Consideration Shares in accordance with the authorization from the Annual General Meeting held on April 26, 2021. Discover Echo is an innovative and revolutionary American company focusing on development, manufacturing, and sales of patented and unique hybrid microscopes that easily transform between Upright and Inverted configurations, merging the capabilities of multiple instruments into one. Discover Echo is expected to grow 65% in 2021 and generate approximately USD 20 million of revenue with a double-digit EBITDA margin.

Read full press release

More News