Abbott to acquire Starlims Technologies for $123 million
15 Dec 2009
Abbott Laboratories said yesterday that it has agreed to acquire Israel-based laboratory information management software specialist Starlims Technologies Ltd for $123 million to expand in the laboratory market segments
Under the terms of the agreement, the Abbott Park, Illinois-based Abbott will acquire all outstanding equity of Starlims for $14 per share, for a total purchase price of approximately $123 million.
Abbott said that Starlims currently has approximately $18 million in cash on hand.
Nasdaq-listed Starlims is a provider of laboratory information management systems (LIMS), with approximately 160 employees worldwide and has clients in over 500 organisations in 40 countries.
The company's flagship product, Starlims, is said to improve the reliability of laboratory sampling processes, support compliance with domestic and international regulations and industry standards, and provide comprehensive reporting, monitoring and analysis capabilities.
Starlims software is used for quality assurance and control, testing and monitoring, and research and development in government, manufacturing and life sciences organisations. Headquartered in Israel, with operations in the United States, Canada, the United Kingdom and Hong Kong, the company serves over 500 organisations in 40 countries.
