BICO acquires Biosero
Biosero is a San Diego based company, with 75 employees globally and founded in 2003. The company offers software solutions, under the umbrella of Green Button Go, and services which enable seamless laboratory automation for connected and smart workflows. Read more at www.biosero.com.
Introduction film
Rationale for the acquisition
Smart software that integrate instruments into automated workflows
The addition of Biosero’s software capabilities brings immediate synergies and will allow BICO to offer its customers fully automated and connected workflow solutions using the combination of technologies and products from current portfolio companies and together with Biosero’s software solutions.
“At BICO we are committed to leveraging our Bio Convergence technologies to develop smart, automated, and sustainable solutions for our customers, and in turn revolutionizing the next generation of the healthcare industry. With Biosero we take a significant and strategic step in expanding our portfolio with combinatorial smart software systems and to enable automated workflows. The Biosero software platform will serve as a glue to our impressive portfolio of hardware, innovative instruments and solutions, tying together the great hardware technologies we have acquired of the years. Through improved efficacy and efficience this leads to better and faster decision making for our customers and contributes to solving the modern healthcare challenges we face.”
and co-founder of BICO
Accelerating Software Capabilities
With Biosero the Group is accelerating its software offering which will be vital in all future product development and can be implemented in existing offering.
For example, the newly launched C.STATION by CYTENA is a collaboration where BICO’s instruments are merged with Biosero’s Green Button Go software.
How it works
Q&A
The enterprise value for all outstanding shares in Biosero, amounts to 165 MUSD. Approximately 63 percent of the purchase price will be paid in cash, 21 percent by issuance of the Considerations Shares, and approximately 16 percent will be paid through an earnout component (shares and cash) over the coming three years.
The addition of Biosero’s software capabilities brings immediate synergies and will allow BICO to offer its customers fully automated and connected workflow solutions using the combination of technologies and products from current portfolio companies together with Biosero’s software solutions.
Biosero’s software and services will be the glue that connects instruments and will enable us to turn single instrument opportunities into large deals.
In the short to mid-term, these cross-business synergies have the potential to unlock large orders related to automated workflows.
2021 has been a busy year and we have strengthened our Group Functions during Autumn 2021 to cater for our acquisitions and secure rapid integration to our financial reporting. We are working hard with establishing efficient work streams to support the Group and Group companies. This has resulted in a new reporting platform which is scalable and easy to integrate with acquisitions – proactive and streamlined processes.
Focus for welcoming Biosero to the BICO family:
- Onboarding and start implementing the 100-day plan, work led by Business Area Director and Biosero CEO.
- Focus to deliver on identified synergies.
- Alignment to BICO Group functions work streams e.g., financial reporting, R&D agenda, marketing, and sales.
