BGI acquired Complete Genomics
BGI announced the acquistion of Complete Genomics this week. According to the press release and the statement from BGI’s CEO Wang Jun, Ph.D. one of the reasons for the acquistion was that “Complete has developed a proprietary whole genome sequencing technology … (that) fit well with our research and business requirements …”. It is important to note that although the Complete Genomics technology shows a slower performance than the Illumina technology it appears to be more accurate (Georg Church, Advisor of BGI & CG).
But what are the market/industry responses to the new acquisition?
- BGI gets “an immediate infrastructure and service offering that will complement the facilities in China” (Isaac Ro, Goldman Sachs)
- “Now BGI gets their US front… And CG is sparred a slow and painful demise…” (Seqanswers)
I would really like to read an interview in 6 months from employee’s of both parties to learn who is the actual “winner” of this deal? Is it BGI since they now have access to the US market or Complete Genomics whose questionable financial situation gained a significant boost from the acquistion. Will Complete Genomics still be an independent operating company? We will find out.