Solexa, a portfolio company of European technology venture capital firm Amadeus, will merge with Illumina, a US genetic technology business. Illumina will acquire all Solexa shares in a stock-for-stock transaction.
Amadeus first backed Solexa in 2001. At the time of the agreement Amadeus was Solexa’s largest single shareholder with a 12.5 percent holding.
Illumina develops and markets tools for the large-scale analysis of genetic variation and function.
This merger follows Amadeus’ closing of its £10 million Amadeus and Angels Seed fund, a co-investment fund for use alongside Amadeus’ institutional funds, earlier this month.