Date: 2013-01-03
Type of information: Company acquisition
Acquired company: Cell Culture Service (Germany)
Acquiring company: Evotec (Germany)
Amount: €1.15 million plus an earn-out payment dependent on business Performance
Terms: Evotec has announced the acquisition of all shares in Cell Culture Service GmbH (CCS), a Hamburg-based company which supports the cell culture needs of a world-wide customer base of biotech and Pharmaceutical companies. CCS is one of the leading suppliers of custom cells and cell-based reagents such as recombinant assay cell lines, assay-ready Frozen Instant Cells, qualified membranes, and proteins for high throughput screening with more than ten years experience in bulk cell production. The purchase price consists of a cash consideration of €1.15 m and an earn-out component targeting €1.05 m in cash. The earn-out component will become due following one year after the acquisition and depends upon the achievement of certain revenue targets.
Details: CCS’ large scale processes for cell production, freezing and storage including the entire team of specialised cell culture scientists and technicians will be fully integrated into Evotec’s Hamburg operations to realise cost synergies and efficiency improvements. CCS has also a subsidiary in Monmouth Junction, New Jersey.
The acquisition of CCS confirms Evotec’s leading position as a fully integrated drug discovery and early development partner for Pharma and biotechnology companies. Integration of CCS’ unique capabilities, such as frozen cell preparations and bulk cell transfection for cell-based screening will enable Evotec’s partners to access the latest science and the best-in-class technology infrastructure to increase efficiency in the drug discovery process.
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