Company to Host Conference Call to Discuss Fourth Quarter Results and 2007 Guidance
SAN DIEGO--(BUSINESS WIRE)--Jan. 26, 2007--Illumina, Inc. (NASDAQ:ILMN) announced today that it completed its acquisition of Solexa,Inc. in a stock-for-stock merger. Earlier today in special meetings ofstockholders, Solexa stockholders approved the merger agreementIllumina and Solexa entered into on November 12, 2006, and Illuminastockholders approved the issuance of shares of Illumina common stockfor the acquisition of Solexa. Under the terms of the mergeragreement, Solexa stockholders will receive 0.344 of a share ofIllumina common stock for each share of Solexa common stock.
"We are excited to join the two companies, creating the onlycompany with genome-scale technology for genotyping, gene expression,and sequencing, the three cornerstones of modern genetic analysis,"said Jay Flatley, President and Chief Executive Officer of Illumina."With Solexa's recent technical achievements we look forward to therapid commercialization of our next-generation sequencing platform."
In connection with the merger, the size of Illumina's board ofdirectors was increased from eight to ten members. The two newlyappointed members are Blaine Bowman and Roy A. Whitfield both of whomwere members of Solexa's board of directors.
Illumina will report its financial results for the fourth quarterand fiscal year 2006 on February 1, 2007. Additionally, managementwill host a conference call to discuss its financial results as wellas to provide guidance for 2007 for the combined companies.
Conference Call Details
The conference call will begin at 5:00 p.m. EST on February 1,2007. Interested parties may listen to the call by dialing866-770-7120 (passcode: 52458765) or if outside North America, bydialing +1 (617) 213-8065 (passcode: 52458765). Individuals may accessthe live webcast under the "Investors" tabs of Illumina's website atwww.illumina.com
Forward-Looking Statements
This release contains forward-looking statements that involverisks and uncertainties. Illumina cautions readers that anyforward-looking information is not a guarantee of future performanceand actual results could differ materially from those contained in theforward-looking information. Words such as "expect," "estimate,""project," "budget," "forecast," "anticipate," "intend," "plan,""may," "will," "could," "should," "believes," "predicts," "potential,""continue" and similar expressions are intended to identify suchforward-looking statements. Such forward looking statements include,but are not limited to, statements about the benefits of thetransaction between Illumina and Solexa, including future financialand operating results, the combined company's plans, objectives,expectations and intentions and other statements that are nothistorical facts.
Among the important factors that could cause actual results todiffer materially from those in any forward-looking statements are therisk that the combined businesses will not be integrated successfully;the risk that the anticipated synergies and benefits from thetransaction may not be fully realized or may take longer to realizethan expected; disruption from the transaction making it moredifficult to maintain relationships with customers, employees orsuppliers; competition and its effect on pricing, spending,third-party relationships and revenues. Additional important factorsthat may affect future results are detailed in Illumina's filings withthe Securities and Exchange Commission (the "SEC"), including itsrecent filings on Forms 10-K and 10-Q, or in information disclosed inpublic conference calls, the date and time of which are releasedbeforehand. Illumina disclaims any intent or obligation to updatethese forward-looking statements beyond the date of this release.
CONTACT:
Illumina, Inc.
Jay T. Flatley
President & Chief Executive Officer
858-202-4567
jflatley@illumina.com
or
Christian O. Henry
Vice President & Chief Financial Officer
858-202-4508
chenry@illumina.com
or
Maurissa Bornstein
Public Relations Manager
858-332-4055
mbornstein@illumina.com
SOURCE: Illumina, Inc.