Qiagen N.V. says it has acquired Corbett Life Science Pty. Ltd. (Corbett), a privately-held developer, manufacturer, and distributor of life sciences instrumentation headquartered in Sydney, Australia.
The transaction is valued at approximately US$66 million in cash (subject to certain customary purchase price adjustments), US$4 million in restricted Qiagen common stock and performance and development milestone payments and other contingencies of up to approximately US$65 million over the next four years.
Corbett is best known for having developed the world's first rotary real-time PCR cycler system - the Rotor-Gene - a system used to detect real-time polymerase chain reaction (PCR) reactions which make specific sequences of DNA and RNA targets visible through amplification and quantifiable through real-time measurement of such amplification.
