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Illumina to buy PacBio for $1.2 billion

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Nov. 7, 2018Illumina announced it will acquire Pacific Biosciences for approximately $1.2 billion. With this acquisition, Illumina will be positioned to provide integrated workflows and novel innovations that bring together both Illumina’s short-read sequencing platforms with PacBio’s long-read sequencing capabilities to help researchers advance their discoveries faster and clinicians offer new tests economically.

“PacBio’s unmatched accuracy mirrors that of Illumina’s in short-read sequencing. Combining the two technologies positions us to reach more applications, accelerate the pace of genomic discovery and bolster our innovation engine which has been a hallmark of Illumina since our inception,” Francis deSouza, president and CEO of Illumina, said in a press release. “PacBio’s relentless pursuit to improve sequencing accuracy, while driving down the cost, underscores the potential of long-reads to expand sequencing to new customers and applications.”

Illumina expects to close the transaction in mid-2019.

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