Monday, September 17, 2012

Complete Genomics Acquired For $117.6M By Chinese Firm

Mountain View-based Complete Genomics has found a buyer for the firm, Chinese company BGI-Shenzhen. the two said this morning. The two said that they have entered into a definitive merger agreement where BGI Biotech will pay $3.15 per share in cash for Complete Genomics, which was publicly traded on the Nasdaq as GNOM. Complete Genomics has been looking for a buyer since at least June. The firm provides human genome sequencing services. The company said it will continue to operate as a separate company, and remain in Mountain View. As part of the deal, BGI will provide Complete Genomics with up to $30M in bridge financing for its operations.