Thermo Fisher Scientific to Acquire Fermentas, Global Provider of Molecular and Cellular Biology Products
Thermo Fisher Scientific announced 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.
Source: Thermo Fisher Scientific
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