Update: Electrifying sales potential
Sygnis intends to acquire a private UK proteomics company, Expedeon, funded by issuing up to 20.5m shares. Sygnis produces innovative molecular biology kits, while Expedeon makes well designed but standard consumable products for protein analysis. Expedeon has a UK- and US-focused, 13-person sales and marketing team and a five-year sales CAGR of about 20%. The deal will complete in mid-year and integration and training will take some months. Sygnis expects to see sales synergies from 2017 and might achieve profitability if sales grow to about €7m with well-controlled costs. Sygnis had Q116 sales of €0.1m and cash of €3.4m.
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