Luminex Corp. is acquiring the flow cytometry portfolio of Merck KGaA's MilliporeSigma unit for €62.5 million.

Under the agreement, Luminex will pay €58.3 million while about €4.2 million of the consideration will be satisfied through committed inventory purchases.

The portfolio includes flow cytometry products sold under the Amnis and Guava brands, along with their associated reagents. Through the acquisition, Luminex will be able to expand its footprint in life science research and broaden its existing offering of flow-based detection system.

The closing of the transaction is expected to occur by the end of 2018, subject to customary closing conditions.

Luminex expects the acquisition to contribute $40 million to $50 million toward its 2019 revenues.

Cantor Fitzgerald & Co. is acting as financial adviser to Luminex, with Smith Gambrell & Russell LLP as legal counsel.

Austin, Texas-based Luminex manufactures and sells proprietary biological testing technologies and products for the life sciences industries.