Cancer Genetics acquires genetic services provider

|About: Cancer Genetics, Inc. (CGIX)|By:, SA News Editor

Investors in thinly traded nano cap Cancer Genetics (CGIX -14.7%) react to the dilutive nature of its acquisition of Hyderabad, India-based BioServe Biotechnologies for $1.9M in CGIX stock and other deferred consideration.

BioServe's post-transaction name will be Cancer Genetics India Pvt. Ltd. The 33-employee firm provides genomic services including next-gen sequence genotyping and DNA synthesis.

Management expects the transaction to be accretive in 2015.