By Stephen Nakrosis
Qiagen said it agreed to acquire Genoox, a provider of AI-powered software, for $70 million in cash, along with additional milestone payments of up to $10 million.
Qiagen said Monday the acquisition will add Franklin, Genoox's flagship cloud-based community platform, to its digital insights portfolio. In addition, the deal creates a path to integrate Qiagen's genomic content into the Franklin platform, the company said.
The deal will strengthen Qiagen's offering for small and mid-sized labs, the company added.
Franklin enables labs to analyze next-generation sequencing data, and delivers real-time, AI-driven insights, Qiagen said.
The Genoox acquisition is expected to generate about $5 million of sales in 2025 and have a neutral impact on adjusted earnings per share, according to Qiagen.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 12, 2025 17:36 ET (21:36 GMT)
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