Azenta Announces the Acquisition of Ziath

Rhea-AI Summary

Azenta, Inc. (NASDAQ: AZTA) has announced the acquisition of Ziath, Ltd., a leading provider of 2D barcode readers based in Cambridge, UK, enhancing Azenta's life sciences workflow solutions. This strategic acquisition is expected to improve offerings across the sample lifecycle, aligning with Azenta's current products. CEO Neil Benn will continue leading Ziath under Azenta’s umbrella. The transaction is anticipated to be accretive to non-GAAP earnings for FY 2023 and GAAP earnings for FY 2024, showcasing a promising financial outlook.

Positive

• Acquisition of Ziath enhances Azenta's high-throughput workflow offerings for life sciences.
• Expected to be accretive to non-GAAP earnings in FY 2023 and GAAP earnings in FY 2024.
• Ziath's 2D barcode scanners complement Azenta's existing product line.

Negative

• None.

Enhances high-throughput workflow offerings with leading 2D barcode reader

BURLINGTON, Mass., Feb. 3, 2023 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced that it has acquired Ziath, Ltd. and its subsidiaries ("Ziath"). Based in Cambridge, UK, Ziath is a leading provider of 2D barcode readers for life sciences applications. Founded in 2005, Ziath's innovative 2D barcode readers are a key component of the laboratory automation workflow serving pharmaceutical, biotech and academic customers worldwide. 

"As part of Azenta, Ziath will enhance offerings which support the entire lifecycle of the sample – from specimen collection to sample registration, storage and processing. The Ziath 2D barcode scanners are also fully compatible with and complimentary to Azenta's 2D barcoded sample tubes," stated Mitch Coyne, SVP and General Manager of the Life Sciences Products business. 

CEO and co-founder, Neil Benn will continue to lead the business as part of the Consumables and Instruments business within the Life Sciences Products segment. The transaction is expected to be accretive to non-GAAP earnings in FY 2023 and GAAP earnings in FY 2024.

About Azenta Life Sciences

Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally.

Azenta is headquartered in Burlington, Massachusetts, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.

"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934

Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include but are not limited to statements about the expected benefits of the acquisition of Ziath Ltd. Factors that could cause results to differ from our expectations include the following: our ability to integrate Ziath's business, and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Azenta expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.

INVESTOR CONTACTS:
Sara Silverman
Head of Investor Relations & Corporate Communications
ir@azenta.com

Sherry Dinsmore
sherry.dinsmore@azenta.com

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SOURCE Azenta

FAQ

What is the purpose of Azenta's acquisition of Ziath?

The acquisition aims to enhance Azenta's life sciences workflow solutions by integrating Ziath's 2D barcode reader technology.

When was the acquisition of Ziath announced by Azenta?

Azenta announced the acquisition of Ziath on February 3, 2023.

How will the acquisition impact Azenta's earnings?

The acquisition is expected to be accretive to non-GAAP earnings in FY 2023 and GAAP earnings in FY 2024.

Who will lead Ziath after the acquisition by Azenta?

Neil Benn, CEO and co-founder of Ziath, will continue to lead the business as part of Azenta.

Where is Ziath located?

Ziath is based in Cambridge, UK.