Quanterix Corporation (QTRX), renowned for its groundbreaking work in biomarker analysis, announced on Friday its acquisition of Akoya Biosciences, Inc. (AKYA), a leader in spatial biology, through an all-stock transaction.
According to the agreement, Akoya shareholders will receive 0.318 shares of Quanterix for every Akoya share they hold. This arrangement represents a 19% premium over Akoya's unaffected stock price as of November 14, 2024.
Scheduled to finalize in the second quarter, this acquisition aims to establish the first comprehensive solution for ultra-sensitive detection of protein biomarkers in blood and tissue.
Masoud Toloue, CEO of Quanterix, remarked, "This strategic acquisition propels our ability to provide the first platform enabling researchers and clinicians to effectively monitor disease progression from tissue samples to blood."
Post-acquisition, Quanterix shareholders will hold approximately 70% of the unified entity, while Akoya shareholders will own roughly 30%.
The merger is anticipated to deliver around $40 million in annual cost synergies by the end of 2026, with $20 million expected within the first year post-completion.
For the 12 months ending September 30, 2024, the combined entity reported revenues of approximately $220 million.
Moving forward, the merged company will continue under the Quanterix brand.
In pre-market Nasdaq trading, Quanterix shares have risen by 9.80% to $12.88, while Akoya shares have surged by 45.11% to $3.86.
The material has been provided by InstaForex Company -
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