R&D software company ArtusLabs has been acquired by life science and health IT company PerkinElmer (NYSE:PKI) as one of a pair of deals intended to boost the Massachusetts company’s offerings for the pharmaceutical industry.
Durham, North Carolina-based ArtusLabs’ software offers scientific data mining among other capabilities and is used by pharmaceutical industry researchers and others working in science-related research to crunch large amounts of data. Along with ArtusLabs, Waltham, Massachusetts-based PerkinElmer also announced a definitive agreement to acquire CambridgeSoft, a Cambridge, Massachusetts company whose software is used by the pharmaceutical, biotechnology and chemical industries.
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The purchase price for ArtusLabs was not disclosed. PerkinElmer CEO Robert Friel said in a statement that the acquisition of both companies, totalling about $220 million in cash, will boost the company’s capabilities in informatics, work related to collecting and managing data.
“The ability to integrate scientific tools and informatics is becoming increasingly critical for our customers as they look to drive productivity and speed to market,” Friel said.
PerkinElmer offers technology and software for a broad range of environmental and health applications. The company generated $1.7 billion in 2010 revenue. PerkinElmer said 2011 revenue for ArtusLabs and CambridgeSoft is projected to reach $65 million.
ArtusLabs, founded in 2007, was backed by Durham venture capital firm Hatteras Venture Partners, among other investors who have pumped more than $4 million in investments into the company.
