Life Technologies Buys Ion Torrent

Carlsbad-based Life Technologies, a developer of DNA sequencing technology, said Tuesday afternoon that it has agreed to buy Ion Torrent in a $375M deal. According to the firm, the cash and stock deal also includes up to $350M in additional consideration based on technical and time-based milestones through 2012. Ion Torrent is a developer of DNA sequencing technology based on chip-based, semiconductor technology. Ion's products are being targeted at benchtop, personal genome sequencing efforts, which the firm says will be available for a cost of less than $100,000. Ion Torrent is based in Guilford, Connecticut, with an office in South San Francisco.