01 Feb 2019
Beckman Coulter Acquires Investec Ventures company Labcyte
Dublin, Ireland. 30 January 2019. Investec Ventures portfolio company, Labcyte, has been acquired by Beckman Coulter Life Sciences, part of the larger Danaher Corporation which generates approximately $6.5 billion in annual revenue.
Labcyte is best known for its Echo® acoustic droplet ejection technology, which uses sound waves to transfer tiny amounts of liquid with unequalled speed and accuracy. This technology—the centerpiece of Labcyte’s Echo Liquid Handlers—enables walkaway convenience and integration capabilities. Labcyte technology enables faster and more cost-effective laboratory workflows in applications such as drug discovery and genomics.
Investec, through the Guinness Ireland Ulster Bank Equity Fund in 2001, invested in a young Trinity College Dublin spin-out called Allergro Technologies which it continued to support until subsequently acquired by Labcyte in 2008. The Fund remained as a shareholder until it was sold to Beckman Coulter Life Sciences earlier this week.
Michael Murphy, managing partner of the Guinness Ireland Ulster bank Equity Fund commented
“We are delighted with the market endorsement of this home grown company confirming our belief in the global demand for technologies and IP developed in Ireland.