Life Technologies to Divest Laboratory Information Management Software Business
CARLSBAD, Calif. --(Business Wire)-- Jun 30, 2009 Life Technologies Corporation (NASDAQ: LIFE), a provider of innovative life science solutions, today announced that it has signed a definitive agreement to sell its SQL*LIMS business to LabVantage Solutions, Inc. for an undisclosed amount.
Under the terms of the agreement, LabVantage will continue to support the SQL*LIMS product and customers will receive the same level of support to which they have been accustomed.
The SQL*LIMS® business from Applied Biosystems, a part of Life Technologies, is an enterprise laboratory information management system (LIMS) provider that manages the laboratory process lifecycle. The system is used for tracking raw materials and samples as they enter and travel the laboratory workflow, sample analysis, data collection and communication of this information to corporate systems. For more information, visit www.sqllims.com.
"We are confident that our customers will benefit from the increased focus of a software solutions company," said Pat Pijanowski, General Manager, SQL*LIMS business unit for Life Technologies. "The combination of these two leading LIMS businesses will allow for expanded and strengthened product offerings to meet the needs of this market."
"While the LIMS business is an important asset for a segment of our customers, it was not a perfect fit with our strategic direction," said Mark Stevenson, Life Technologies' President and Chief Operating Officer. "This agreement will allow us to better focus on our strengths, while ensuring continued access to a key solution in the laboratory workflow."
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2009. Life Technologies does not expect this transaction to have a material affect on its financials in fiscal year 2009.
About Life Technologies (www.lifetechnologies.com)
Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of more than $3 billion in 2008, employs approximately 9,500 people, has a presence in more than 100 countries, and possesses a rapidly growing intellectual property estate of approximately 3,600 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc. For more information on how we are making a difference, please visit our website: www.lifetechnologies.com.
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