Life Technologies inks $725M deal for Ion Torrent

Arming itself for a looming showdown with Illumina over the booming market for second-generation gene sequencing technologies, Life Technologies struck a deal to buy Ion Torrent for $375 million in cash and stock with $350 million more on the line based on a series of milestones. The deal gives Life Technologies a shot at introducing a gene sequencing device later this year that will be sold for less than $100,000, according to the San Diego Union-Tribune. A variety of companies have been...