Stockholm – Biotage AB (Biotage), (NASDAQ OMX Stockholm: BIOT.ST) today announces the closing of the acquisition of all outstanding shares in the privately held company Horizon Technology, Inc. (Horizon) based in New Hampshire, US, in accordance with contract and public announcement of December 6th, 2017. The purchase price adjusted for actual net cash at the closing date is approx. USD 17.9 million, corresponding to approx. SEK 143.4 million[1], based on an enterprise value of approx. USD 16.4 million and cash of approx. USD 1.5 million.
This information was submitted for publication, through the agency of the contact persons set out above, at 17.00 CET on January 16, 2018.
[1] Based on an exchange rate USD/SEK of 0.1247. This exchange rate has been used throughout this press release for the conversion of USD/SEK.
Contact persons:
Torben Jörgensen, CEO
Tel: +46 707 49 05 84, torben.jorgensen@biotage.com
Erika Söderberg Johnson, CFO
Tel: +46 707 20 48 20, erika.johnson@biotage.com
About Biotage
Biotage offers efficient separation technologies from analysis to industrial-scale and high-quality solutions for analytical chemistry from research to commercial analysis laboratories. Biotage’s products are used by public authorities, academic institutions, contract research and contract manufacturing organizations and in the pharmaceutical and food industries, among others. The company is headquartered in Uppsala and has offices in the US, UK, China, Japan, South Korea and India. Biotage has approx. 340 employees and had sales of 667 MSEK in 2016. Biotage is listed on Nasdaq Stockholm. Website: www.biotage.com