Roche Agrees to Buy Genia Technologies for Up to $350 Million

Jun 02, 2014 1:52 am ET

June 2 (Bloomberg) -- Roche Holding AG agreed to buy Genia Technologies Inc. for as much as $350 million as part of an expansion in the gene-sequencing market.

Roche will pay $125 million in cash and as much as $225 million in further payments based on the achievement of certain goals, the Basel-based company said today in a statement.

“Genia’s proprietary technology is expected to reduce the price of sequencing while increasing speed and sensitivity,” Roche said.