Molecular Devices acquires LJL BioSystems

<%=company1%> Corp. (Sunnyvale, CA) announced on August 30 that it has completed its acquisition of Molecular Devices (Sunnyvale, CA). The stockholders of both companies have approved the transaction, and all regulatory requirements and other conditions have been satisfied. Under the merger agreement announced on June 8, Molecular Devices will issue approximately 4.45 million shares of its common stock in the transaction, valued at approximately $348.8 million, and assume options and warrants to acquire approximately 675,000 additional shares. The merger will be accounted for as a pooling of interests.

Molecular devices' Cytosensor instrument is based on the ‘silicon microphysiometer' idea that put the company on the map ten years ago.

The merger also represents consolidation of complimentary product lines for drug discovery and biology. Molecular Devices manufactures high-throughput bioanalytical instruments for drug discovery and life sciences research. Its offerings include microplate readers (based on fluorescence and absorbance), cell analysis instruments, immunoassays, and liquid handling systems. LJL's Criterion line of instrumentation (see figure below) addresses detection needs of assay development, high-throughput screening, and ultra-HTS laboratories.

For more information: Molecular Devices Corp., 1311 Orleans Ave., Sunnyvale CA 94089-1136. Tel: 800-635-5577. Fax : 408-747-3602.

Edited by Angelo DePalma
Managing Editor, Drug Discovery Online