Bruker Acquires NanoString for $392.6 Million

Billerica, Massachusetts * April 22, 2024: Bruker Corporation (NASDAQ: BRKR) has announced its definitive acquisition agreement with NanoString Technologies, Inc., headquartered in Seattle, Washington, for approximately $392.6 million in cash. The deal is expected to be closed in the second quarter of 2024, subject to customary closing conditions.

In 2023, NanoString generated revenues of approximately $168 million. The acquisition will add NanoString's gene expression profiling and spatial transcriptomics solutions and products, including the nCounter®, GeoMx®, CosMx™, and Atomx™ product lines, to Bruker's spatial biology portfolio. The company expects to fund the acquisition with cash on hand and established debt instruments.

As a preliminary estimate, for the remainder of 2024, the transaction is expected to be dilutive to non-GAAP EPS by $0.15 to $0.20. However, by 2026, Bruker expects the NanoString business to have rebounded and be near break-even with resumed revenue growth and margin improvements, taking advantage of deal synergies.

Frank H. Laukien, Bruker’s President & CEO, emphasized that Bruker regards spatial biology as a key pillar of its strategic focus on the post-genomic era. For 2027 and beyond, the company expects its combined spatial biology business to achieve double-digit organic revenue growth with increasing non-GAAP EPS accretion.

It is worth noting that Bruker is unable to provide guidance estimates for the NanoString business for the remainder of 2024, given the disruption of the chapter 11 reorganization and other uncertainties. Nonetheless, the company is confident about the potential of the acquisition in the long term.

Today the company's shares have moved 0.4% to a price of $78.1. If you want to know more, read the company's complete 8-K report here.

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