Pacific Biosciences completed a strategic shift by selling short‑read sequencing IP and assets to Illumina and signaling an intensified focus on high‑throughput long‑read platforms. PacBio’s management said proceeds will accelerate development of a new long‑read chemistry and platform intended to consolidate its position in high‑accuracy, long‑read sequencing. Illumina acquired select short‑read assets for about $48.1 million, taking on technologies and reagents PacBio decided were non‑core after earlier pauses in short‑read development. PacBio retained non‑exclusive licenses to some IP, while Illumina will integrate the assets into its broader sequencing portfolio. The transactions close an era of PacBio’s mixed short‑read efforts and sharpen competitive dynamics between long‑ and short‑read sequencing providers, with implications for instrument roadmaps and customer choices in genomics research and clinical markets.