Repligen (NASDAQ:RGEN) has entered into a definitive agreement to acquire privately-held C Technologies, Inc. for ~$240M, comprised of $192M in cash and $48M in common stock.
C Technologies is an analytics company with a market-leading portfolio of spectroscopy products used primarily in biopharmaceutical manufacturing. It recorded revenue of $23.7M in 2018, and is projected to generate $27M-$29M in revenue in 2019.
Repligen believe this acquisition will establish them in the rapidly growing Process Analytics segment of bioprocessing.
C Technologies is expected to contribute ~$16M-$17M to Repligen in FY19 revenue, also Repligen expects the transaction to be accretive to its overall EBIT margins and accretive to Adj. EPS in FY19.
The transaction is expected to be completed during 2Q19.
Repligen preliminary financial results for 1Q19: Company expects to report revenue in the range of $60M-$61M, with organic growth of 35%-37%; expects EPS of $0.16-$0.17; and adj. EPS of $0.27-$0.28.
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