Bruker Completes Asset Acquisition of NanoString Business

Bruker Corporation (Nasdaq: BRKR) today announced that it has closed its asset acquisition of the business of NanoString Technologies, Inc., headquartered in Seattle, Washington, a leading provider of life-science research solutions for spatial transcriptomics and gene expression analysis.

Under the asset purchase agreement, Bruker has now acquired substantially all of the assets and rights associated with NanoString’s business, including the nCounter, GeoMx, CosMx and AtoMx product lines, for approximately $392.6 million in cash, and the assumption of certain liabilities. In 2023, NanoString generated revenues of approximately $168 million.

NanoString’s innovative platforms and leading solutions for spatial transcriptomics and gene expression analysis have been critical in enabling scientists and medical researchers to advance vital discovery, translational, and pre-clinical disease research, leading to over 7,000 peer-reviewed publications. The products and organizational infrastructure of NanoString and Bruker are highly complementary, and under Bruker’s ownership, the combined organization will leverage each other’s strengths to continue to innovate and support the discovery and translational research communities with a broad set of leading solutions, ushering in the single cell and spatial biology revolution.

“We have a proven track record in successfully integrating and nurturing our acquired businesses for growth and increased profitability, while preserving their cutting-edge R&D. We are excited to carry forward all the NanoString product lines which are so important for science and medical research,” commented Dr. Mark R. Munch, President of the Bruker NANO Group. “NanoString’s innovative platforms are complementary to Bruker’s high-performance CellScape spatial proteomics platform and contribute further to Bruker’s leadership in the post-genomic era.”

Confirming Bruker’s April 22^nd press release, Bruker expects the NanoString business to be near break-even by 2026 with resumed revenue growth, margin improvements, and transaction synergies, including public company costs, which are not assumed in this asset deal. As a preliminary estimate, for the remainder of 2024, the transaction is expected to be dilutive to Bruker’s non-GAAP EPS by $0.15 to $0.20. Due to significant business disruption and uncertainty, Bruker is not yet in a position to give financial guidance on the NanoString business for 2024, but Bruker expects to add this business to Bruker’s guidance by 2025 and beyond.