(Reuters) - Life sciences firm Qiagen (NYSE:QGEN) said on Monday it has acquired DNA-biometrics firm Verogen in a $150-million cash deal, strengthening its forensics portfolio.
The deal builds on the companies' existing partnership from 2021, under which Qiagen has the rights to distribute some of Verogen's products such as its next-generation gene sequencing panels and genetic code analyzing technology GEDmatch.
Qiagen expects about $20 million of sales from the Verogen portfolio this year. The deal is expected to be dilutive to Qiagen's 2023 adjusted profit per share by about 3 cents and neutral to the firm's 2024 profit.
San Diego-based Verogen, founded in 2017, provides DNA-based human identification products and services, which are used in forensic analysis and to help resolve criminal and missing persons cases.
Verogen's portfolio will complement Qiagen's sample collection and preparation kits, which are used to separate human DNA from forensic investigation samples for analysis.