On March 1, 2017 Takara Bio USA Holdings, Inc. ("TBUSH") reported that it has completed the acquisition of WaferGen Bio-systems, Inc. ("WaferGen"), WaferGen has become a wholly-owned subsidiary of TBUSH as of February 28, 2017 (US local time) (Press release, Takara Bio, FEB 28, 2017, View Source [SID1234518026]).

Under the merger agreement executed with WaferGen, TBUSH paid 35.9 million US dollars to acquire 100% of the equity in WaferGen. TBUSH is a wholly owned subsidiary of Takara Bio Inc. ("Takara Bio"), a leading global biotechnology and life science company headquartered in Shiga, Japan. Takara Bio USA, Inc. ("TBUSA", formerly known as Clontech Laboratories, Inc.) is a wholly owned subsidiary of TBUSH, and both TBUSA and TBUSH are part of the global Takara Bio Group. The impact of the acquisition on Takara Bio Inc.’s financial results in 2017 will be immaterial.

The Takara Bio Group provides a wide range of life science products and services under the Takara, Clontech, and Cellartis brands that assist discovery, translational, and clinical scientists in the advancement of their work. The WaferGen acquisition will allow the Takara Bio Group to augment and expand its worldwide commercial offerings in transcriptomics and create new market opportunities in other area of genomics.

"We are pleased to announce the completion of this transaction and officially welcome WaferGen to the Takara Bio Group," said Carol Lou, President, TBUSA. "We are excited about the synergy between WaferGen’s technologies and products for isolation and processing of single cells and our RNA-seq and T-Cell Receptor (TCR) profiling technologies. WaferGen’s technologies are highly complementary to our reagent portfolio and the combination presents new opportunities for us in genetic analysis including clinical and applied markets."

Recently (January 2017), TBUSH announced the acquisition of Rubicon Genomics, Inc. The combined acquisitions of WaferGen and Rubicon Genomics are synergistic and will allow the Takara Bio Group to provide the exciting benefits of the combined portfolios to the life science community.

Advisors
GCA Advisors, LLC was exclusive financial advisor to TBUSH and Torreya Partners, LLC was exclusive financial advisor to WaferGen. Morrison & Foerster LLP acted as legal counsel to TBUSH while K&L Gates LLP acted as legal counsel for WaferGen.

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