The sale of water quality division to Modern Water is valued at about $4.5m.
Modern Water acquired the division’s intellectual property, current inventory and commercial contracts, as well as its equipment and staff.
SDIX president and CEO Francis DiNuzzo said the transaction is consistent with the firm’s corporate strategy and enables it to focus further on its core businesses, particularly Life Science business where it is expanding the development efforts on its next generation proprietary GAT technology.
"The net cash from this sale strengthens our balance sheet and provides additional resources for key investments," DiNuzzo said.
Modern Water owns, installs and operates desalination technology as well as develops and supplies advanced systems for water monitoring.
SDIX is a biotechnology company with a core expertise in creating better antigens, better antibodies and better assays for the pharmaceutical, biotechnology and food safety markets.
