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Article: HBIO Divests the Majority of its Capital Equipment Business.
- Article from:
- Business Wire
- Article date:
- December 3, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOLLISTON, Mass. -- Harvard Bioscience, Inc. (NASDAQ: HBIO) today announced it has completed the sale of its Genomic Solutions Division and its Belgian subsidiary, Maia Scientific, both part of its Capital Equipment Business Segment, to Digilab, Inc. The purchase price payable by Digilab under the terms of the Asset Purchase Agreement consists of $1,000,000 in cash plus additional consideration in the form of an earn-out based on 20% of the revenue generated by the acquired business as it is conducted by Digilab over a three-year period post-transaction. The Asset Purchase Agreement contains customary representations, warranties, indemnification and escrow provisions. ...