The deal also includes contingent consideration payment of $75m tied to the achievement of several milestones.
Subject to the satisfaction of customary closing conditions, the deal is expected to complete next month.
ACD is engaged in the development of molecular pathology applications, including cell and tissue-based diagnostic tests for personalized medicine.
The company provides proprietary consumables for genomic analysis, as well as RNA in-situ hybridization technology under the RNAscope brand name.
RNAscope is a patent protected target hybridization and signal amplification technology that allows to detect single RNA molecules in single cells.
The firm also produces reagents, which can be used in multiple diagnostic and companion diagnostic applications. ACD produces around 9,000 probe reagents and reagent kits for manual and automated use.
In addition, the company works with pharmaceutical and biotechnology firms to validate biomarkers for targeted therapeutic development.
Bio-Techne president and CEO Charles Kummeth said: "We are very pleased to have ACD as part of Bio-Techne Corporation. First of all, ACD marks Bio-Techne’s entry into the genomics field and market.
"Second, and more importantly, its innovative and versatile technology has the potential to change pathology practices."
ACD CEO Dr Yuling Luo said: "Strategically, the fit between the two companies is excellent. Both companies share the passion to empower cutting-edge science with innovative quality reagents."
Bio-Techne develops and produces purified proteins such as cytokines and growth factors, as well as antibodies, immunoassays and biologically active small molecule compounds.
The company also produces FDA-regulated controls, calibrators, blood gas and clinical chemistry controls for OEM customer and clinical customers.
Image: ACD produces cell and tissue-based diagnostic tests for personalized medicine. Photo: courtesy of Suwit Ritjaroon / FreeDigitalPhotos.net.
