Biotage AB (OM:BIOT) entered into an agreement to acquire all outstanding shares of Horizon Technology, Inc. for $18.4 million on December 6, 2017. Biotage will pay a purchase price of $18.4 million, based on an enterprise value of approximately $16.4 million and cash of approximately $2 million. The purchase price will be adjusted for actual net cash at the closing date. The transaction will be financed mainly with a bank loan, combined with Biotage’s existing cash at hand. Horizon generated net revenue of $8.2 million and EBITDA of $0.7 million in 2016. Transaction is expected to close in the first quarter of 2018. Biotage AB (OM:BIOT) completed the acquisition of all outstanding shares of Horizon Technology, Inc. for $17.9 million on January 16, 2018. The purchase price adjusted for actual net cash at the closing date is approximately of $17.9 million, based on an enterprise value of approximately of $16.4 million and cash of approximately $1.5 million.