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Abbott to Acquire STARLIMS Technologies Ltd., a Leader in Laboratory Information Management Systems
Date:12/14/2009

As Abbott integrates STARLIMS into its existing portfolio of laboratory information management products, the company will continue to support and expand the non-clinical market segments currently served by STARLIMS.

"We believe our laboratory information management solutions, which are widely used by government, manufacturing and life sciences organizations, have important applications in clinical laboratories for improving the access, exchange and analysis of patient and technical data," said Itschak Friedman, chief executive officer of STARLIMS, who will continue to lead the STARLIMS team after the acquisition closes. "We look forward to becoming a part of Abbott and working together to serve our current customers and expand the availability of our technologies to address unmet needs in laboratories around the world."

Under the terms of the agreement, Abbott will acquire all outstanding equity of STARLIMS for $14 per share, for a total purchase price of approximately $123 million. STARLIMS currently has approximately $18 million in cash on hand.

This transaction does not impact Abbott's previously issued ongoing earnings-per-share guidance for 2009 and is subject to customary closing conditions. Abbott expects the transaction to close in the first quarter of 2010.

About STARLIMS Technologies Ltd.

STARLIMS Technologies Ltd. (Nasdaq: LIMS) is a leading provider of laboratory information management systems (LIMS), with approximately 160 employees worldwide and more than 20 years of LIMS experience. The company's flagship product, STARLIMS®, improves the reliability of laboratory sampling processes, supports compliance with domestic and international regulations and industry standards, and provides comprehensive reporting, monitoring and analysis capabilities. STARLIMS software is u
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