NEW YORK, March 2 (GenomeWeb News) - Applied Biosystems has closed its acquisition of the research products division of Ambion.
The $273-million cash acquisition, which the firms announced in late December, enables ABI to enter the consumables market for sample prep, RNAi, microRNA, and gene-expression and array products.
The market in which this business plays is believed to be around $500 million market and grows more than 10 percent annually, according to ABI.
The research products division has about 300 employees, and will continue to be based in Austin. It will report to ABI's molecular biology division.
According to ABI, Ambion stands to generate more than $52 million in revenue in 2005, which would be a 22-percent improvement over last year's receipts.