Fully listed Source BioScience has launched its 13.7p a share bid for Vindon Healthcare which values the storage equipment manufacturer and storage services provider at £12.2m.
Vindon will provide Source with a US base from which to sell its own products and services and there are plans to launch its DNA sequencing services after the deal is completed. Vindon has just opened a new storage facility in southern California. Source will also invest in additional temperature storage facilities around the world. There will also be cross selling opportunities with a greater range of products available to customers.
The deal should be earnings enhancing for Source in 2014.
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