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Financings in Brief: Perkin-Elmer/Tecan AG

This article was originally published in The Gray Sheet

Executive Summary

Perkin-Elmer/Tecan AG: Integrated life science systems firm Perkin-Elmer plans to acquire 14.5% of Swiss firm Tecan AG under a definitive agreement, giving Perkin-Elmer 52% of the voting rights in Tecan. The firms "contemplate an expanded program to automate molecular biology and pharmaceutical processes designed to accelerate drug discovery, development and testing," Perkin-Elmer states in a release. The agreement with Tecan, "given their expertise in robotics and system automation, enhances our ability to fulfill our vision of providing automated and integrated high-throughput discovery systems that define the molecular medicine paradigm," states Tony White, Perkin-Elmer chairman, president and CEO. Specific terms of the cash deal are not being disclosed...
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