Ginkgo to Acquire Zymergen
- Acquisition is expected to accelerate the development of Ginkgo’s innovative horizontal synthetic biology platform
- Expect integration of Zymergen’s complementary automation, software, and data science tools as well as biological assets to significantly enhance the capacity, capabilities, and efficiency of Ginkgo’s platform for its diverse customer base and enable new growth opportunities across many end markets
- Zymergen’s core technical team is expected to help fill significant planned hiring by Ginkgo across its cell engineering, automation, digital technology, and data teams, accelerating scaling efforts while minimizing incremental run-rate operating expenses following integration of the acquisition
- Ginkgo’s platform serves customers across industries as an enabling platform and Ginkgo will support Zymergen’s plans to evaluate strategic alternatives for their Advanced Materials and Drug Discovery businesses
- Zymergen stockholders will own 5.25% of the pro forma combined company following the transaction
BOSTON and EMERYVILLE, Calif., July 25, 2022 /PRNewswire/ — Today, Ginkgo Bioworks (NYSE: DNA) — the leading horizontal platform for cell programming — and the biotechnology company Zymergen (Nasdaq: ZY) announced they have entered into a definitive agreement under which Ginkgo will acquire Zymergen in an all-stock transaction that values Zymergen at an approximately $300 million market capitalization. Under the terms of the agreement, which have been unanimously approved by the boards of directors of both companies, Zymergen stockholders will receive a fixed exchange ratio of 0.9179 Ginkgo shares for each Zymergen share, representing 5.25% pro forma ownership of Ginkgo following the transaction.