Illumina, Inc. (NASDAQ:ILMN) announced it has signed a definitive agreement to acquire GenoLogics Life Sciences Software, a developer of industry-leading laboratory information management systems (LIMS) for life sciences organizations. The acquisition strengthens Illumina’s industry leading portfolio of genetic analysis solutions.
“The acquisition of GenoLogics demonstrates Illumina’s commitment to drive the adoption of sequencing in new markets and improve the genomic information workflow,” said Francis deSouza, President of Illumina. “Adding GenoLogics’ products to Illumina’s portfolio is another example of our continued commitment to bring innovative sample-to-answer solutions to research and clinical labs.”
Adopted by over 120 genomic labs worldwide, GenoLogics’ Clarity LIMS™ software enables lab efficiencies and improved sample throughput with increased accuracy, fast turnaround, sample traceability, and preconfigured instrument integrations. GenoLogics has a number of current partnerships with Illumina, including the recently launched Clarity LIMS X, an edition of its industry-leading laboratory informatics platform that is optimized for use with Illumina SeqLab to address population-scale genomics workflows.
“We are excited to join Illumina and carry on the innovative spirit that GenoLogics Life Sciences Software has been known for,” said Michael Ball, CEO of GenoLogics. “Illumina and GenoLogics have had a longstanding partnership and this acquisition will enable us to widen our distribution, accelerate our product development, and provide even greater support to the Clarity LIMS community.”
GenoLogics will become part of the Illumina Enterprise Informatics business under the leadership of Sanjay Chikarmane, Senior Vice President and General Manager of Enterprise Informatics.
The impact of this transaction was contemplated in the updated 2015 financial guidance Illumina provided on July 21, 2015. The acquisition is expected to close by the end of August. (Original Source)
Shares of Illumina closed today at $214.31, down $2.39 or 1.1%. ILMN has a 1-year high of $242.37 and a 1-year low of $145.12. The stock’s 50-day moving average is $221.17 and its 200-day moving average is $202.17.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on July 22, Janney Montgomery Scott analyst Paul Knight downgraded ILMN to Hold. Separately, on the same day, Piper Jaffray’s William Quirk reiterated a Buy rating on the stock and has a price target of $230.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Paul Knight and William Quirk have a total average return of 7.6% and 9.1% respectively. Knight has a success rate of 69.2% and is ranked #1518 out of 3724 analysts, while Quirk has a success rate of 65.4% and is ranked #1080.
Illumina Inc providessequencing-and array-based solutions for genetic analysis. Itsproducts enabled researchers to explore DNA, helping them create the first map of gene variations associated with health, disease, and drug response.