Foster City-Based Applied Biosystems to Acquire APG

Foster City, Calif. -- Applied Biosystems Group, a Foster City-based maker of tools for the life sciences industry, said on Tuesday that it will acquire Agencourt Personal Genomics (APG), a Massachusetts-based developer of genetic analysis technologies, for $120 million in cash. The deal is expected top close after mid-year. Applied Biosystems, one of two operating groups of Applera Corp., said that the deal will add complimentary technology to its current platforms. "After conducting a thorough evaluation of more than 40 companies and academic research groups, we have concluded that APG's technology is both tested and commercializable," said Catherine Burzik, the president of Applied Biosystems.
http://press.appliedbiosystems.com/corpcomm/applerapress.nsf/ABIDisplayPress/582C494292BDED918825717D001C5A5E?OpenDocument&type=abi