Evotec sells Tech unit to PerkinElmer for $30.6M

Evotec AG has agreed to sell its Evotec Technologies GmbH unit to USA-based PerkinElmer, a technology firm specializing in health sciences and photonics, in an all-cash deal worth 23.0 million euros ($30.6 million). Evotec's majority-owned subsidiary provides systems for confocal imaging, cell handling, ultra-high throughput screening services, as well as image capture and cellular analysis software. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close late December 2006 or early 2007. ET's products focus on high-end technologies for automated cell biology. It employs 85 people and generated sales of 17.0 million euros in 2005. Evotec says it will deconsolidate the Hamburg-based unit from its financial statements from the start of 2007.

"Over the past years we have positioned Evotec Technologies to become the premium international supplier of tools and technologies for modern cellular research. Our cutting-edge cell analysis, automation and software solutions are the foundation of our leading position in this market segment," said Carsten Claussen, chief executive of the sold unit. "This is the time to exploit our potential as part of a larger entity with a broader sales force, portfolio strategy and R&D resources. We look forward to becoming the Center for Cellular Sciences in Hamburg within the PerkinElmer group," he added.