Ginkgo Bioworks Expands Horizontal Synthetic Biology Platform With This Stock Deal
$DNA
$ZY
Biotechnology: Biological Products (No Diagnostic Substances)
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- Ginkgo Bioworks Holdings Inc (NYSE:DNA) agreed to acquire Zymergen Inc (NASDAQ:ZY) in an all-stock transaction.
- Zymergen stockholders will receive 0.9179 shares of Ginkgo's Class A common stock for each Zymergen share. The deal values Zymergen at approximately $300 million and would provide Zymergen shareholders about 5.25% pro forma ownership of Ginkgo.
- Ginkgo plans to integrate Zymergen's core automation and software technologies for scaling strain engineering capacity into its foundry, including machine learning and data science tools for exploring genetic design space.
- The agreement represents Ginkgo's largest acquisition to date and is expected to significantly enhance Ginkgo's platform by integrating robust automation and software capabilities.
- Ginkgo customers will also benefit from expanding Ginkgo's library of biological assets ("Codebase") following the transaction.
- The transaction is expected to be completed by the first quarter of 2023.
- Price Action: DNA shares are down 4.62% at $2.79, and ZY stock is up 18.8% at $2.38 during the market session on the last check Monday.