MDS Inc.

MDS Inc. of Toronto will acquire Molecular Devices Corp. of Sunnyvale, Calif., a manufacturer of cellular analysis and biochemical testing products for drug discovery and other life sciences applications. The deal is worth $615 million in cash, including $585 million for the purchase of outstanding shares and $30 million for outstanding stock options. The Canadian company intends to combine Molecular Devices and MDS Sciex to create a business unit with more than 1100 employees. Molecular Devices’ cellular analysis and biochemical screening products will retain their brand names, and MDS Sciex will continue to expand its mass spectrometry franchise.