Affymetrix to buy eBioscience for $330 million

SANTA CLARA, Calif. (AP) -- Genetic testing instrument maker Affymetrix Inc. said Wednesday it will buy privately held eBioscience Inc. for $330 million in a deal it expects to expand its product portfolio and diversify revenue.

Affymetrix, based in Santa Clara, Calif., said the acquisition also creates new opportunities in applications of immunology, cell biology and stem cell biology, and it will augment its growing molecular diagnostics business.

EBioscience, headquartered in San Diego, focuses on flow cytometry and immunoassay reagents for immunology and oncology research and diagnostics. Flow cytometry is used to analyze cells in blood and other fluids for research and diagnosis of diseases.

Affymetrix said it expects the deal to close late in the fourth quarter. It will pay for the acquisition using a combination of cash on hand and committed debt.