BIO-RAD LABORATORIES, INC. acquired GnuBIO, Inc. for $50.4 million total consideration ($39.7 million cash at closing plus $10.7 million contingent consideration, potentially up to $70.0 million on development/regulatory and sales milestones), a transaction completed in April 2014, structured as all cash plus contingent consideration.
GnuBIO, Inc. operates in Clinical Diagnostics. GnuBIO's innovative DNA workflow is well-suited for the clinical diagnostics sequencing market and leverages droplet digital PCR technology.
We believe that GnuBIO's innovative DNA workflow is well-suited for the clinical diagnostics sequencing market and will leverage our leadership role in the area of droplet digital PCR.
Droplet-based sequencing workflow complementary to Bio-Rad's droplet digital PCR leadership. Leverages Bio-Rad's droplet digital PCR leadership for the clinical diagnostics sequencing market. Clinical Diagnostics segment Per later 10-Ks: in 2016 Bio-Rad fully impaired GnuBIO-related goodwill of $13.5 million and in-process research and development of $46.4 million.
We believe that GnuBIO's innovative DNA workflow is well-suited for the clinical diagnostics sequencing market and will leverage our leadership role in the area of droplet digital PCR.Bio-Rad Laboratories FY2014 10-K, acquisitions disclosure
Advisory firms were not disclosed for this transaction.