Illumina completes acquisition of SomaLogic

Rhea-AI Summary

Illumina (NASDAQ: ILMN) completed its acquisition of SomaLogic on Jan. 30, 2026, expanding Illumina's multiomics and proteomics capabilities by combining SomaScan with Illumina's NGS ecosystem, DRAGEN software, and Connected Multiomics.

The transaction consideration was $350 million in cash at closing plus up to $75 million in near-term performance-based milestones and royalties; the deal was funded with cash on hand. Illumina will discuss financial implications on its Feb. 5, 2026 earnings call.

Positive

• Acquisition price: $350M cash plus up to $75M milestones
• Deepens multiomics by combining SomaScan with Illumina NGS and DRAGEN
• Positions Illumina for growth in the expanding proteomics market
• Leverages Illumina's global reach to scale SomaLogic service offerings

Negative

• Integration risk: must integrate SomaLogic products and operations into Illumina
• Contingent payments: up to $75M in near-term milestones and royalties
• Near-term financial impact to be detailed at the Feb. 5, 2026 earnings call

Key Figures

Upfront acquisition price: $350 million Performance milestones: Up to $75 million Senior notes issued: $500,000,000 +5 more

8 metrics

Upfront acquisition price $350 million Cash consideration for SomaLogic and other assets at closing

Performance milestones Up to $75 million Near-term performance-based milestones for SomaLogic acquisition

Senior notes issued $500,000,000 4.750% notes due 2030, referenced to help fund SomaLogic deal

Coupon rate 4.750% Interest rate on notes due December 12, 2030

Legacy notes outstanding $500 million 5.800% notes due December 12, 2025, outstanding as of Sep 28, 2025

Market cap pre-news $22,898,608,000 Market capitalization before SomaLogic completion announcement

Upcoming earnings call February 5, 2026 Planned discussion of transaction’s financial implications

52-week range $68.70–$155.529 Pre-news 52-week low and high for ILMN shares

Market Reality Check

Price: $144.81 Vol: Volume 2,115,255 is at 1....

normal vol

$144.81 Last Close

Volume Volume 2,115,255 is at 1.08x the 20-day average of 1,951,178 shares. normal

Technical Shares trade above the 200-day MA at 105.04, with price at 149.69 pre-news.

Peers on Argus

Peers show mixed moves: WAT down 1.84%, MEDP down 0.74%, while DGX and LH are mo...

Peers show mixed moves: WAT down 1.84%, MEDP down 0.74%, while DGX and LH are modestly positive. No broad, aligned sector move is indicated.

Previous Acquisition Reports

2 past events · Latest: Jun 23 (Positive)

Same Type Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Jun 23	SomaLogic acquisition deal	Positive	+0.1%	Announced definitive agreement to acquire SomaLogic to expand proteomics.
Jul 09	Fluent acquisition close	Positive	+6.1%	Closed Fluent BioSciences deal, bolstering single‑cell and multiomics offering.

Pattern Detected

Recent acquisition announcements have generally been received positively, with one modest and one stronger gain, averaging a 3.1% move on the day after news.

Recent Company History

Over the past two years, Illumina has used acquisitions to expand its multiomics capabilities. A July 9, 2024 deal for Fluent BioSciences targeted single-cell analysis, while the June 23, 2025 SomaLogic agreement aimed to deepen proteomics and multiomics integration. Both were funded with cash on hand and designed to broaden Illumina’s technology stack. Today’s completion of the SomaLogic acquisition follows through on that earlier plan and formalizes the shift toward a broader proteomics footprint.

Historical Comparison

acquisition

+3.1 %

Average Historical Move

Historical Analysis

Past acquisition headlines produced an average one-day move of 3.1%, with one modest and one stronger gain. Today’s completion of SomaLogic looks more muted by comparison.

Typical Pattern

This SomaLogic deal progressed from a June 2025 definitive agreement, supported by a $500M note issuance referencing the proposed acquisition, to formal completion integrating SomaLogic’s proteomics platform into Illumina’s multiomics strategy.

Market Pulse Summary

This announcement completes Illumina’s planned acquisition of SomaLogic for $350 million plus up to ...

Analysis

This announcement completes Illumina’s planned acquisition of SomaLogic for $350 million plus up to $75 million in milestones, formally adding a scaled proteomics platform to its multiomics portfolio. The deal follows earlier financings, including $500,000,000 of 4.750% notes referencing the proposed SomaLogic purchase. Historically, acquisitions such as Fluent BioSciences and the initial SomaLogic agreement have drawn generally positive share reactions. Investors may focus on integration progress, uptake of combined proteomics–NGS workflows, and financial details expected on the February 5, 2026 earnings call.

Key Terms

proteomics, multiomics, next-generation sequencing (NGS), DRAGEN software, +3 more

7 terms

proteomics medical

"Deeply expands leadership in proteomics and multiomics..."

Proteomics is the large-scale study of all the proteins produced by a cell, tissue or organism, like taking a full inventory and watching how the workforce and machines inside a factory behave. For investors, proteomics matters because it helps identify drug targets, disease indicators and responses to treatments—information that can speed development, reduce risk, guide partnerships and reveal new commercial opportunities in biotech and diagnostics.

multiomics medical

"Deeply expands leadership in proteomics and multiomics..."

Multiomics is the combined analysis of different biological data types — such as genes, proteins and small‑molecule chemicals — to build a complete picture of how cells or organisms function. For investors, multiomics matters because it can make drug and diagnostic development more precise and faster by revealing causes, predicting who will benefit from a therapy, and reducing downstream clinical trial surprises — like using multiple camera angles to better understand a complex scene.

next-generation sequencing (NGS) technical

"Illumina remains an open, accessible, and enabling next-generation sequencing (NGS) platform..."

A laboratory technique that reads the sequence of DNA or RNA by processing millions of fragments at once, like scanning many pages of a book simultaneously instead of one at a time. It matters to investors because it accelerates and lowers the cost of genetic testing, drug discovery and diagnostics, expanding markets for biotech, diagnostics equipment and data services and enabling products that can change clinical care and revenue streams.

DRAGEN software technical

"Combination leverages SomaScan with Illumina's NGS ecosystem, DRAGEN software..."

DRAGEN software is a specialized genomics data-processing platform that turns raw DNA sequencing output into organized, interpretable genetic information much faster and with fewer errors than standard software by using optimized algorithms and hardware acceleration. For investors, its importance lies in improving lab throughput and cutting analysis costs—like swapping a slow hand-crank for an automated machine—thereby affecting a sequencing service’s capacity, margins, regulatory readiness, and competitive edge.

CLIA regulatory

"including a CLIA- and CAP-certified lab."

CLIA stands for the Clinical Laboratory Improvement Amendments, a U.S. federal program that sets quality and safety standards for laboratories that test human samples. For investors, a CLIA certification is like a safety inspection or license for a lab — it signals that test results are produced under accepted quality controls, affects a lab’s ability to sell or bill certain tests, and therefore influences a company’s regulatory risk, market access, and credibility.

CRISPR medical

"using CRISPR to perturb ~20,000 genes."

CRISPR is a gene‑editing technology that works like precise molecular scissors to change DNA in living cells. For investors, it matters because it can speed development of new therapies, lower research costs, and create valuable intellectual property, but it also carries scientific, regulatory, ethical, and commercial risks that can strongly affect the value and prospects of companies working with the technology.

array-based readout technical

"including existing service providers using SomaLogic's array-based readout."

An array-based readout is the digital output from a laboratory test that uses a grid-like format to measure many biological signals at once, such as bits of DNA, proteins, or chemicals. For investors, it signals a company’s ability to run high-volume, lower-cost tests and turn raw lab signals into usable data for diagnostics, drug research, or monitoring; like reading all the cells in a spreadsheet at once, it affects scalability, speed and potential regulatory scrutiny.

AI-generated analysis. Not financial advice.

Deeply expands leadership in proteomics and multiomics

Combined capabilities bring high scalability, flexibility, and affordability into protein analysis 

Combination leverages SomaScan with Illumina's NGS ecosystem, DRAGEN software, and Illumina Connected Multiomics to rapidly transform insights into discoveries

SAN DIEGO, Jan. 30, 2026 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced that it has completed its acquisition of SomaLogic, a leader in data-driven proteomics technology. The highly complementary proteomics capabilities expand Illumina's multiomics portfolio, strengthening customer access to proteomic insights at scale to help drive faster drug discovery and positively impact health care.

"Welcoming the SomaLogic team to Illumina is an important milestone in executing the multiomics strategy we outlined in 2024," said Jacob Thaysen, chief executive officer of Illumina. "By combining SomaLogic's highly differentiated proteomics technology with Illumina's industry-leading innovation and global reach, we are strengthening our ability to deliver scalable insights across genomics and proteomics, helping customers unlock more from every sample in support of better outcomes for patients."

SomaLogic's technologies provide deep insights into protein function, interactions, and modifications, helping to accelerate understanding of complex biology and human health. Customers will benefit from the combined power of SomaScan, Illumina Protein Prep, SomaSignal Tests, DRAGEN software, and Illumina Connected Multiomics to generate rich multiomic datasets at scale, with the flexibility to adopt the tools and workflows that best match their needs.

Illumina is building new, scalable growth businesses that complement and accelerate its high-throughput sequencing franchise. The SomaLogic acquisition ideally positions Illumina for growth in the expanding proteomics market by increasing customer access to SomaLogic's technologies and service offerings, coupled with Illumina's product innovation and global market reach.

Illumina remains an open, accessible, and enabling next-generation sequencing (NGS) platform, and will work closely with customers to provide continuity of products, services, and support as SomaLogic's portfolio is integrated into Illumina's product and solutions roadmap.

Illumina and SomaLogic have partnered in proteomics co-development since late 2021, when the companies entered into an agreement to bring the SomaScan Proteomics Assay onto Illumina's high-throughput NGS platforms. The completed acquisition builds on this foundation, expanding Illumina's presence in the large and growing proteomics market and advancing its leadership in multiomics. The company will continue to support SomaLogic customers and partnerships, including existing service providers using SomaLogic's array-based readout.

Illumina acquired SomaLogic and other specified assets from Standard BioTools for $350 million, subject to customary adjustments, in cash paid at closing, plus up to $75 million in near-term performance-based milestones and performance-based royalties. The deal was funded with cash on hand, and Illumina will discuss the financial implications of the transaction in our upcoming earnings call scheduled for February 5, 2026.

To learn more, visit https://www.illumina.com/company/news-center/somalogic-acquisition.html.

Use of forward-looking statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) the future conduct and growth of the business and the markets in which we operate, including the proteomics market; (ii) the success of products and services competitive with our own; (iii) our ability to successfully integrate the SomaLogic business into our existing operations and the SomaLogic business's technology and products into our portfolio; (iv) our ability to sell the products and further develop the SomaLogic business's technology; (v) our ability to successfully manage partner and customer relationships in the proteomics market; (vi) our ability to manufacture robust instrumentation and consumables including the SomaLogic business's products; (vii) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; and (viii) customer uptake of, and satisfaction with, new products and services, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter. 

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

Contacts

Investors: 
Illumina Investor Relations 
858-291-6421 
IR@illumina.com 

Media: 
Christine Douglass 
PR@illumina.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/illumina-completes-acquisition-of-somalogic-302674789.html

SOURCE Illumina, Inc.

FAQ

What did Illumina announce about the SomaLogic acquisition on Jan. 30, 2026 (ILMN)?

Illumina completed its acquisition of SomaLogic, combining proteomics with its NGS ecosystem. According to the company, the deal brings SomaScan together with Illumina's DRAGEN software and Connected Multiomics to scale multiomic data generation and support drug discovery.

How much did Illumina pay to acquire SomaLogic (ILMN) and how was it funded?

Illumina paid $350 million in cash at closing plus up to $75 million in milestones and royalties. According to the company, the transaction was funded with cash on hand and includes performance-based contingent payments.

What products and technologies does Illumina gain from SomaLogic with the ILMN acquisition?

Illumina gains SomaLogic's SomaScan proteomics assay, SomaSignal Tests, and related technologies. According to the company, these will integrate with Illumina Protein Prep, DRAGEN software, and Connected Multiomics workflows.

When will Illumina discuss the financial impact of the SomaLogic deal (ILMN)?

Illumina will discuss financial implications on its Feb. 5, 2026 earnings call. According to the company, the call will cover how the cash-funded acquisition affects near-term results and outlook.

What are the investor risks from Illumina's SomaLogic acquisition (ILMN)?

Key investor risks include integration challenges and contingent milestone payments up to $75 million. According to the company, successful integration, customer adoption, and manufacturing scale are material factors that could affect outcomes.