Affymetrix Inc. (AFFX)

[mlkrborn]

Affymetrix to acquire privately-held eBioscience for $330 mln (AFFX) 4.63 : Co announces it has signed a definitive agreement to acquire eBioscience for $330 mln. Co states 2011 sales are expected to exceed $70 mln, gross margins in excess of 70% and EBITDA margin of ~30%. The purchase price represents ~4.5 times 2011 revenue and 14 times 2011 EBITDA. The transaction will be funded using a combination of roughly 50% cash-on-hand and 50% committed debt to avoid dilution.