Fluidigm to acquire DVS Sciences

Microfluidics company Fluidigm Corp. (NASDAQ:FLDM) is acquiring DVS Sciences Inc. (Sunnyvale, Calif.) for about $207.5 million in a cash and stock deal. DVS develops and markets single-cell protein analysis systems, including its CyTOF2 mass cytometer. Fluidigm said DVS will complement Fluidigm's single-cell genomics technologies. Earlier this month, Fluidigm said it expects 2013 total revenue of $71 million. DVS -- which is backed by 5AM Ventures; Pfizer Venture Investments; Mohr Davidow; Roche Venture Fund; and the Ontario Institute for Cancer Research -- had $18.5 million in revenue for the nine months ended Sept. 30, 2013 (see BioCentury, July 18, 2011).

DVS shareholders will receive $125 million in cash and about $82.5 million in Fluidigm stock. Fluidigm plans to raise $175 million through the sale of convertible senior notes due 2034 to fund the cash portion of the deal, which is expected to close next month. Piper Jaffray is advising Fluidigm, and Jefferies is advising DVS. ...