Thermo Fisher Scientific Signs Agreement to Acquire Fermentas, Global Provider of Molecular and Cellular Biology Products
WALTHAM, Mass., May 27, 2010 (BUSINESS WIRE) -- Thermo Fisher Scientific Inc. /quotes/comstock/13*!tmo/quotes/nls/tmo (TMO 52.17, +1.25, +2.46%) , the world leader in serving science, announced today that it has signed a definitive agreement to acquire Fermentas International Inc. -- a manufacturer and global distributor of enzymes, reagents and kits for molecular and cellular biology research -- for $260 million in cash, subject to a post-closing adjustment. With headquarters in Burlington, Ontario, and principal operations in Vilnius, Lithuania, Fermentas has approximately 500 employees. The company had full-year revenues of approximately CAD $57 million in 2009 (approximately USD $54 million).
Fermentas provides a broad range of high-quality molecular and cellular biology research tools, including reagents for nucleic-acid and protein purification; restriction and modifying enzymes; molecular weight markers and other life science research and diagnostic tools. The company also offers a variety of products for polymerase chain reaction (PCR), reverse transcription PCR (RT-PCR) and quantitative real-time PCR (qRT-PCR), which will strengthen Thermo Fisher's existing PCR portfolio.
"With Fermentas, we are better-positioned to meet the demands of molecular and cell biologists for complete workflows that can accelerate their research and improve results," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "The addition of Fermentas, our recent acquisition of Finnzymes and the launch of our new Solaris qPCR assays create a unique combination of products and expertise that enables us to strengthen our depth of capabilities in the high-growth PCR market, including research and PCR-based testing."
Dr. Viktoras Butkus, chairman and chief executive officer of Fermentas, said, "We are extremely pleased with the organization we have created at Fermentas and are proud of our consistent track record of delivering high-quality molecular biology products with compelling value for our customers. Thermo Fisher Scientific is the global leader in the life sciences industry, and joining such a highly respected company will create many attractive opportunities for our customers and employees."
Fermentas will be integrated into Thermo Fisher Scientific's Analytical Technologies Segment. The transaction, which is subject to applicable regulatory approvals, is expected to close during the third quarter of 2010. The company does not expect this transaction to have a material impact on its 2010 financial results.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. /quotes/comstock/13*!tmo/quotes/nls/tmo (TMO 52.17, +1.25, +2.46%) is the world leader in serving science. Our mission is to enable our customers to make the world healthier, cleaner and safer. With revenues of more than $10 billion, we have approximately 35,000 employees and serve customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. We create value for our key stakeholders through two premier brands, Thermo Scientific and Fisher Scientific, which offer a unique combination of continuous technology development and the most convenient purchasing options. Our products and services help accelerate the pace of scientific discovery, and solve analytical challenges ranging from complex research to routine testing to field applications. Visit www.thermofisher.com.
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