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Caliper Life Sciences to Acquire Cambridge Research & Instrumentation
Date:12/9/2010

HOPKINTON and WOBURN, Mass., Dec. 9, 2010 /PRNewswire-FirstCall/ -- Caliper Life Sciences, Inc. (Nasdaq: CALP), a leading provider of products and services for drug discovery research, today announced that it has entered into a definitive agreement to acquire privately-held Cambridge Research & Instrumentation, Inc. (CRi) for approximately $20.0 million, including net debt.  CRi's patented preclinical and tissue-based multiplexed analysis systems will expand Caliper's life sciences tools portfolio, particularly as it bridges into clinical research, pathology and clinical market applications.  Under the agreement, in exchange for all of CRi's outstanding equity securities, Caliper will issue common stock valued at approximately $10.5 million, pay cash of approximately $7.5 million, and assume CRi indebtedness of approximately $2.0 million.  CRi's revenues are expected to be approximately $12.0 million in 2010 and the technology should deliver a 20%+ growth rate upon reconfiguration and integration into Caliper's portfolio and operations.  Ultimately, Caliper's entry into the emerging digital and multiplexed pathology market segment has the potential to deliver a substantially greater growth profile. 

"CRi's advanced platforms add an important new dimension of capability to our suite of next-generation life science tools, and positions Caliper to further address biomarker discovery and companion diagnostics solutions for personalized medicine development programs," said Kevin Hrusovsky, President and CEO of Caliper Life Sciences.  "This acquisition extends the reach of Caliper's proprietary offerings along the in vitro to in vivo bridge by filling the gap in tissue analysis platforms.  Similar to the approach we used in our successful commercialization of other disruptive technologies such as microfluidic LabChips and whole animal optical
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SOURCE Caliper Life Sciences, Inc.
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