DNA sequencing giant Illumina just bought rival Pac Bio for $1.2 billion — here's why

Illumina just paid $1.2 billion for Pacific Biosciences, to help it retain its dominant position in the DNA sequencing space, biotech experts say. Illumina, which is valued at more than $45 billion, makes the machines that companies from 23andMe to Ancestry rely on for their sequencing. Illumina ILMN , the company that makes the machines that sequence the vast majority of human genomes, is buying a smaller competitor called Pacific Biosciences PACB for $1.2 billion.