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NEW YORK – Invitae and ArcherDx announced Monday morning that the two genetic testing companies have agreed to merge in order to expand their footprint in the cancer genetics and precision oncology space.

Invitae said that it would acquire privately held ArcherDx through a combination of 30 million shares of its common stock and $325 million in cash, plus an additional 27 million shares of common stock if certain milestones are achieved. The overall transaction is valued at approximately $1.4 billion.

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